Yawn. This is not a big deal.
There's no China, India or Brazil in the G8 (now G7) so it doesn't exactly represent the biggest economies in the world.
What the G7 does represent however are some of the most debt ridden countries in the world!
There's no China, India or Brazil in the G8 (now G7) so it doesn't exactly represent the biggest economies in the world.
What the G7 does represent however are some of the most debt ridden countries in the world!
Both their muni debt and their corporate debt are the highest in the world on a GDP basis. The two of those together are at least $15 trillion right now (and that's if you believe their numbers, it could be far worse).
Adding China would just drastically increase the amount of debt in the GX group.
Fake growth? Sure, I get it, China should behave more like responsible Western countries who report real figures all the time!
Maybe you've been reading too much Gordon Chang - he's been predicting the collapse of China every year for 15 years now, and he's been wrong every time.
I guess Forbes publishes his garbage because they know their audience, and some of that audience just can't bear to see China or Russia or India or Brazil or South Africa succeed.
US: 72.5
Japan: 214.3
Source: https://en.wikipedia.org/wiki/List_of_countries_by_public_de...