GLOBAL DEBT IS RISING, AND CHINA IS CATCHING UP IN THE DEBT GAME: “China played a central role in increasing global debt in recent decades as borrowing outpaced economic growth. Debt as a share of GDP has risen to about the same level as in the United States, while in dollar terms China’s total debt ($47.5 trillion) is still markedly below that of the United States (close to $70 trillion). As for non-financial corporate debt, China’s 28 percent share is the largest in the world.”