The debt burdens carried by emerging markets have become a regular feature of reports about threats to financial stability. The total debt for 30 large EM countries reached $72.5tn in 2019 — a 168 per cent rise over the past 10 years, according to BIS data. This figure certainly merits watching. However, a deeper analysis of the numbers suggests a less worrisome picture.
新興市場的債務負擔，在有關金融穩定所面臨威脅的報告中司空見慣。國際結算銀行(BIS)的數據顯示，2019年，30個大型新興市場國家的債務總額達到72.5兆美元，在過去10年中成長了168%。這個數字確實值得關注。然而，深入分析這些數字，你會發現情況並沒有那麼令人擔憂。
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