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J.P. Morgan alarms on global $251T debt
Forecasts indicate that global debt, which is projected to reach $251 trillion by 2025, along with rising interest rates linked to declining fiscal discipline and a shrinking population, will exert significant pressure on the global economy. A report by JPMorgan highlights two main factors: fiscal deficits and demographic decline. The current fiscal deficit, amounting to $100 trillion, coupled with ongoing increases in public debt, heightens the likelihood of higher interest rates. Additionally, advanced economies face major demographic challenges such as declining birth rates and an aging population, threatening future savings, healthcare expenses, and pension systems. The report warns that, if fiscal and demographic conditions continue to deteriorate, pressure on interest rates and global borrowing costs may intensify before 2031.
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