Name: 世界的な債務危機はやってくるのか？| CNBCが解説 (Is a global debt crisis coming? | CNBC Explains)
Uploaded: 2021-01-14T10:54:48.000Z
Duration: 8 min 51 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

Total worldwide debt has never been higher.

And yet, there's little sign of this current wave

Now with the coronavirus outbreak being declared

a pandemic, governments have announced hundreds

of billions of dollars in stimulus packages

So, just how worried should we be if it all

Global borrowing has been growing rapidly,

so rapidly that many are concerned it is quickly

The Institute of International Finance estimates

total worldwide debt, which is made up of

borrowings from households, companies and

government, surged to a staggering $253 trillion

That's a whole lot of debt, more than three times

the annual economic output of the entire world.

for each of the 7.7 billion people on the planet.

is something we should all be worried about.

So much so, the group has urged governments

around the world to make it a primary concern.

Put simply, debt is created when one party

It allows individuals to buy something they

For example, you might take on debt when you

get a loan to buy a car or mortgage on a house.

This allows you to pay back the cost of those

investments over time instead of all at once.

The cost of this service is the interest rate.

At present, interest rates around the world

This has made it cheap to borrow from banks,

meaning businesses can make large investments

and homeowners don't need to spend as much

There are drawbacks to a low-rate environment though.

Individuals aren't likely to see much of a

return on their savings, and both people and

businesses could load up on too much cheap

Governments take on debt too, which they can

use to stimulate the economy by funding infrastructure

Sovereign debt is very different to how we

Loans to countries with developed economies,

like Canada, Denmark or Singapore, are generally

beyond their means, lawmakers can raise taxes

But loans to governments in emerging markets

are generally seen as much riskier, which

is why these countries will sometimes issue

debt in a foreign, more stable, currency.

Although this allows them to attract more

investors from abroad looking for bigger returns,

an economic slump, weak home currency or a

high debt burden can make it difficult for

Ultimately, the most important risk when it

that a country may fall behind on its debt

Over the last 50 years, there have been four

We are currently in the midst of the fourth wave.

So, what can we learn from the first three?

Well for one, none of them had a happy ending.

In the 1970s, many Latin American countries

began to borrow extensive amounts of money

from U.S. commercial banks and other creditors

It didn't seem like a problem at the time.

Interest rates were low, and Latin American

But in the background, the debt wave was rising.

At the end of 1970, the region's total outstanding

debt from all sources added up to $29 billion.

By the end of 1978, that number had shot up

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世界的な債務危機はやってくるのか？| CNBCが解説 (Is a global debt crisis coming? | CNBC Explains)

ultimately

panic

crisis

urge