China, India able to absorb share of record coronavirus-induced global debt levels with ‘growth credibility’

Summary:
[unable to retrieve full-text content]Developing economies with strong growth potential like India and China should not panic too much just yet amid rising debt levels after a new report showed the coronavirus pandemic pushed global borrowings to a new high last year after many governments turned to stimulus to stop the associated economic fallout.Global debt surged to US1 trillion last year, leading the overall debt to gross domestic product (GDP) ratio to rise by 35 percentage points to 355 per cent, which was much higher than…

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