you people do realize that the US is only ranked #20 on the worlds list of countries with external debt % relative to GDP right? European countries are far worse off though not alone.
list of countries in ranked order
Ireland – 1,239% of GDP
United Kingdom – 451.4% of GDP
Switzerland – 391.3% of GDP
Netherlands – 367% of GDP
Belgium – 353.7% of GDP
Denmark – 283.2% of GDP
Hong Kong – 265.7% GDP - Kind of a special case since they have a financial system seperate from China.
Sweden – 262.3% of GDP
France – 254.4% of GDP
Norway – 246.9% of GDP
Finland – 244.8% of GDP
Austria – 241.3% of GDP
Portugal – 207.3% of GDP
Germany – 183.9% of GDP
Greece – 178.9% of GDP
Spain – 169.5% of GDP
Australia – 139.9% of GDP
Italy – 136.6% of GDP
Hungary – 110.3% of GDP
United States – 99.46% of GDP
*external debt is "The portion of a country's debt that was borrowed from foreign lenders including commercial banks, governments or international financial institutions. These loans, including interest, must usually be paid in the currency in which the loan was made. In order to earn the needed currency, the borowing country may sell and export goods to the lender's country."
External Debt Definition | Investopedia
list of the biggest Holders of U.S. Government Debt
1.Federal Reserve and Intra-governmental Holdings – $6.326 trillion
2. China – $1.132 trillion
3. Other Investor/Savings Bonds – $1.107 trillion
4. Japan – $1.038 trillion
5. Pension Funds – $842.2 billion
6. Mutual Funds – $653.5 billion
7. State and Local Governments – $484.4 billion
8. United Kingdom – $429.4 billion
9. Depository Institutions – 284.5 billion
10. Insurance Companies – $250.1 billion
11. Oil Exporters – Holding $232 billion
12. Brazil – Holding $206.4 billion
13. Caribbean Banking Centers – $185.2 billion
14. Taiwan – Holding $149.6 Billion
15. Switzerland – Holding $113.9 billion
looks like China only holds about 5-6% of US debt.
