Global Debt Leaves World 'Vulnerable' to Upheaval (U.S. News & World Report)

Standing before an auditorium at the University of Hong Kong earlier this year, International Monetary Fund Managing Director Christine Lagarde praised what she saw as a "strong upswing that holds the promise of higher incomes and living standards" around the world.

But she also warned that the good times won't last. In order to shelter the world from a future international economic crisis, she advised nations to prioritize fixing "the roof while the sun is still shining," pointing to the record $164 trillion in public and private debt currently amassed by nations. 

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The U.S. lawmakers cited an estimation from the Center for Global Development that found 23 of 68 countries currently hosting Belt and Road Initiative projects are "at risk of debt distress today." They also cited Djibouti and Sri Lanka as countries that have been forced to grant China "onerous concessions, including equity in strategically important assets" in an effort to get out from under their indebtedness to Asia's largest economy. 

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