The world’s debt crisis
I refer to the article “Pulled back in – The world is entering a third stage of a rolling debt crisis, this time centred on emerging markets” (The Economist, Nov 13).
S’pore’s private debt highest at 250% of GDP?
The chart shows that Singapore has the highest “emerging market private debt as % of GDP”, at about 250% of GDP, amongst the 14 countries shown in the chart.
S’pore’s debt growth highest?
Singapore also had the highest “debt” growth from 2007 to 2014.
A growing debt problem and its consequences?
According to the article “The never-ending story – First America, then Europe. Now the debt crisis has reached emerging markets” (The Economist, Nov 13) – “The first group includes those for which the credit boom will be followed by a prolonged hangover, not a heart attack. The likes of South Korea and Singapore belong in this category”.
What do you think?
Leong Sze Hian