Misleading.

Look at balance sheets.

Countries like Japan and Singapore are creditor nations. They are rich.

https://commodity.com/data/singapore/debt-clock/

In Sgs case one of the reasons for high external debt reflects its role as a financial hub, with large foreign deposits in local banks recorded as liabilities, similar to how banks functions.

To my recollection, it is about USD $2 trillion in which foreigners save in Sgs banks...

This post has been edited by Mai189: Dec 7 2025, 06:26 PM