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China's Debt Surpasses Europe For The First Time
China's Debt Surpasses Europe For The First Time
China’s government debt has surpassed the European Union’s for the first time, marking a major shift in the global debt landscape.
Since the 2008 financial crisis, the U.S., China, and Europe have followed very different borrowing paths. While Europe kept debt growth relatively constrained, both the U.S. and China expanded rapidly—especially after 2020.
The chart below, via Visual Capitalist's Niccolo Conte, visualizes annual government debt totals for the U.S., EU, and China from 1995 to 2025 in current U.S. dollars (not adjusted for inflation),...
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