look news india
Canada's economy is going through a bad phase, debt compared to GDP has reached 103 percent. This means that the debt burden on Canadians exceeds their total GDP, including interest and principal. Since Canadians are spending more than their disposable income, the country is facing economic instability. This imbalance causes Canadians to take on too much debt to purchase property and pay for essential expenses.
Canada's economic situation may come under further pressure following Donald Trump's victory in the recent election results in the United States. In his election campaigns, Trump promised higher import tariffs and a review of the North American Free Trade Agreement, which, if Trump takes office, could actually crack down on Canada, America's largest trading partner. What the Canadian government does to deal with the crisis will prove important. Experts believe that this debt is not a good thing for the economic health of the country.
Household debt is higher in countries with high economic instability. Households with household debt are more likely to face financial uncertainty. After Canada comes the turn of Britain whose total GDP is 80 percent owed to the public. Talking about other countries, America has 73 percent debt, France has 63 percent, China has 62 percent and Germany has 52 percent debt. India's debt is 37 percent of total GDP, which is less than Canada and America. This means that the debt burden on Indian families is very low.
