A report by the International Monetary Fund shows that the world's two major economic rivals, China and the United States, will drive most of the increase in global public debt over the next five years. U.S. spending creates problems for many other countries by keeping interest rates high.
According to the IMF's Financial Watch, an overview of global fiscal developments, in both economies, public debt under current policies is expected to roughly double by 2053. Thus, how these two economies conduct their fiscal policies could have profound implications for the global economy and pose significant risks to the underlying financial outlook of other economies.
Source (Al-Arabiya.net Website, Edited)
