Global debt hits record $365 trillion in first half of 2026, IIF says
Emerging-market debt climbs $6.5 trillion to more than $110 trillion, led by China, the Institute of International Finance says
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Global debt reached a record $365 trillion in the first half of 2026, the Institute of International Finance says. Emerging-market debt rose $6.5 trillion over the period to more than $110 trillion, with China accounting for the largest share of the increase, the IIF says.
The debt load reflects an imbalance that has shaped the US-China relationship for years rather than a new source of risk. With both sides now negotiating trade terms, rare earths and AI cooperation instead of escalating tariffs, the record figures are unlikely to alter the negotiating posture on either side or shift market expectations heading into the summit. For now, the numbers stand as backdrop to the talks, not a factor driving them.