Global debts have risen to a new record high of £167 trillion, a rise of £21 trillion compared with 2016, according to the Institute of International Finance. Debts have risen particularly sharply in China, Argentina, Nigeria and Turkey. This has happened during a period of modest growth internationally. There are concerns that the debt burden could bring serious risks to world finances when the downturn occurs.
Corporate debts are booming and there are fears (even at the IMF) that much of the extra lending is going to businesses at the riskier end of the spectrum. Early tremors of another financial crash?