Interesting information for those who are financially inclined to get a better perspective on the world's economies.
Which countries’ government is the richest (having most money that is, in US$)?
If you are expecting North American and European nations, you might be disappointed.
While the countries look rich, wealthy European nations can't withstand a prolonged major financial crisis, just like Greece.
The USA might have the biggest economy, but the American government is not at all rich; in fact, it can't even take out $150bn if asked to now without resorting to borrowing. To date the US government has borrowed $14 trillion!
The UK, likewise, while the country/people are rich, the government isn't. The UK government’s debt stands at $9 trillion now.
Which countries’ government is the richest (having most money that is, in US$)?
If you are expecting North American and European nations, you might be disappointed.
While the countries look rich, wealthy European nations can't withstand a prolonged major financial crisis, just like Greece.
The USA might have the biggest economy, but the American government is not at all rich; in fact, it can't even take out $150bn if asked to now without resorting to borrowing. To date the US government has borrowed $14 trillion!The UK, likewise, while the country/people are rich, the government isn't. The UK government’s debt stands at $9 trillion now.
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World's Richest Governments after 2008-2009 financial crisis:
1. China
National reserves: $2,454,300,000,000
2. Japan
2. Japan
National reserves: $1,019,000,000,000
3. Russia
3. Russia
National reserves: $458,020,000,000
4. Saudi Arabia
4. Saudi Arabia
National reserves: $395,467,000,000
5. Taiwan
5. Taiwan
National reserves: $362,380,000,000
6. India
6. India
National reserves: $279,422,000,000
7. South Korea
7. South Korea
National reserves: $274,220,000,000
8. Switzerland
8. Switzerland
National reserves: $262,000,000,000
9. Hong Kong, China
9. Hong Kong, China
National reserves: $256,000,000,000
10. Brazil
10. Brazil
National reserves: $255,000,000,000
Here are the rest, in million US$:
Here are the rest, in million US$:
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11 Singapore / 203,436
12 Germany / 189,100
13 Thailand / 150,000
14 Algeria / 149,000
15 France / 140,848
16 Italy / 133,104
17 United States / 124,176
18 Mexico / 100,096
19 Iran / 96,560
20 Malaysia / 96,100
21 Poland / 85,232
22 Libya / 79,000
23 Denmark / 76,315
24 Turkey / 71,859
25 Indonesia / 69,730
26 United Kingdom / 69,091
27 Israel / 62,490
28 Canada / 57,392
29 Norway / 49,223
30 Iraq / 48,779
31 Argentina / 48,778
32 Philippines / 47,650
33 Sweden / 46,631
34 United Arab Emirates / 45,000
35 Hungary / 44,591
36 Romania / 44,056
37 Nigeria / 40,480
38 Czech Republic / 40,151
39 Australia / 39,454
40 Lebanon / 38,600
41 Netherlands / 38,372
42 South Africa / 38,283
43 Peru / 37,108
44 Egypt / 35,223
45 Venezuela / 31,925
47 Spain / 28,195
48 Colombia / 25,141
49 Chile / 24,921
50 Belgium / 24,130
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Big national reserves don't guarantee prosperity however, for instance, the yearly expenses for China's government is $1.11 trillion, their government must always think of economic growth and making more money.China’s government overspent $110bn last year, much on it towards modernizing their military, if it goes on like this their reserves can only last for 22 yrs.
The Malaysian government overspent $13bn last year, if it goes on like this their reserves can only last for 7 yrs.The Singaporean government overspent $3bn last year, much of it rescuing their banks from financial crisis, if it goes on like this their reserves can last for 68 yrs.
The Swiss government overspent $1bn last year, if it goes on like this their reserves can last 262 yrs.
A country normally can borrow up to 100% its GDP, a very strong industrial country or very financial stable nation can borrow up to perhaps 200% its GDP. With debts over 250% its GDP the country is bankrupt.Greece's debt is 113.40% GDP -- In Danger As It Is Not Considered A Strong Industrial Or Financial Country.
Iceland Is 107.60% -- Also In Crisis As It Is Not So Strong Industrial Or Financially.
Singapore Debts Is 113.10% -- Not In Hot Water Due To Its Global Financial Hub Status, And Also Its Financial Strength. It's Only Dangerous For Singapore When It Reaches 200%
Japan Debts Is 189.30% -- Still Under Radar As A Powerful Industrial Nation. It Needs To Panic Only At Around 200%
US Has The World Largest Debts, But It Is Only 62% Its GDP, It Is Not In Any Immediate Danger Of Bankruptcy.Zimbabwe Debts Is 282.60% GDP, It Is A Bankrupt Nation.
Malaysia Debts Is Currently At 53.70% GDP.
Hong Kong And Taiwan Are Doing Pretty Good With Debts At 32-37% GDP
South Korea Is Even Better With Debts At 23.5% GDP
China Is Very Stable With Debts At 16.90% GDP
Ru
ssia Is Like A Big Mountain With Debts Only At 6.30% GDP
ssia Is Like A Big Mountain With Debts Only At 6.30% GDP There Are Only 5 Countries with No Debt (i.e. 0%) –
Brunei, Liechtenstein, Palau, Nieu and Macau of China.
(Courtesy of forwarded mail from Chan Chun Mun)