The debt burdens carried by emerging markets have become a regular feature of reports about threats to financial stability. The total debt for 30 large EM countries reached $72.5tn in 2019 — a 168 per cent rise over the past 10 years, according to BIS data. This figure certainly merits watching. However, a deeper analysis of the numbers suggests a less worrisome picture.
新兴市场的债务负担，在有关金融稳定所面临威胁的报告中司空见惯。国际清算银行(BIS)的数据显示，2019年，30个大型新兴市场国家的债务总额达到72.5万亿美元，在过去10年中增长了168%。这个数字确实值得关注。然而，深入分析这些数字，你会发现情况并没有那么令人担忧。
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