The USA and Chin have the highest debt in the world but i don’t understand the concept of them being some of the wealthiest countries, does that debt need paying off? How do they get this debt? Ultimately it just doesn’t make sense to me.
In: Other
Because wealthy countries are able to pay off large amounts of debt on a rolling basis.
The level of debt is the level of debt, not loans that have been accumulated. Think of it like a wealthy person putting more on their credit card each month, even if they pay it off diligently.
Latest Answers