Global debt hits record of nearly $338 trillion, says IIF

Global debt surged to a record $337.7 trillion in the second quarter, fueled by easing financial conditions and a weaker U.S. dollar. China, France, the U.S., and other major economies saw the largest increases. Emerging markets face rising debt-to-GDP ratios and significant bond redemptions, while concerns grow over the U.S.'s increasing reliance on short-term borrowing.