全球债务三国杀：美国40万亿利息压顶，日本227%负债率惊魂，中国10万亿化债计划突围

Group 1: Debt Situations of Major Economies - The United States has a total debt exceeding $40 trillion, with a debt-to-GDP ratio of 138%, and an average debt burden of $108,000 per person [1][3] - Japan's debt stands at $9.1 trillion, with a staggering debt-to-GDP ratio of 227%, surpassing Greece's peak during its debt crisis [5] - China's total debt, including national and local bonds, is 86.1 trillion yuan, resulting in a debt-to-GDP ratio of 63.8%, significantly lower than the US and Japan [6] Group 2: Interest and Fiscal Pressure - The US is facing increasing interest pressure, with projected interest payments nearing $1.2 trillion, making it the second-largest fiscal item after social security [3] - Japan's central bank, previously the largest buyer of government bonds, is reducing its bond purchases, which may destabilize the bond market [5] - China is addressing local hidden debts, estimated at 60 trillion yuan, which pose repayment challenges due to high interest rates and short maturities [8] Group 3: Debt Management Strategies - The US continues to rely on its dollar dominance to manage its debt through refinancing strategies [8] - Japan is in a reactive position, hoping for a turnaround while facing increased tariffs on its exports [5] - China is proactively implementing a 10 trillion yuan debt reduction plan, focusing on replacing high-interest hidden debts and extending repayment terms to alleviate fiscal pressure [8]