Panel: Why mounting US national debt poses a risk

World Today

The US national debt has hit a new $35 trillion landmark, according to the latest data from the US Treasury Department. That is equal to the GDPs of China, Japan, Germany, India, and Britain combined. This year alone, the International Monetary Fund has twice sounded alarm, saying the escalating US debt load poses a growing risk to the global economy.

What has led to the continued rise of the US government debt? In what ways could this issue become risky for America and beyond? Host Ding Heng is joined by William Lee, Chief Economist of Milken Institute, a California-based economic think tank; Professor Qu Qiang, Fellow of Belt and Road Research Center at Minzu University of China; Professor Liu Baocheng, Director of the Center for International Business Ethics with University of International Business and Economics; David Blair, Vice President and Senior Economist of the Center for China and Globalization.