Re: Govt. is not broke
Japan’s is around 200% of GDP.
China has had double-digit growth for all this time and even into the future so they are able to afford to keep their debt under control but it ain’t a good thing for them to have it at that high level, not because of any issues now but because of an event where their economic growth slows right down.
Anyway, they hold most of America’s debt so if they ever have a slow-down, they can recall all of their debt that they hold in American currency and that would wipe at least 60% of their debt out in no time because of the high value of the American dollar vis-à-vis the Chinese currency.