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.
1. Peoples Republic of China - National reserves: $2,454,300,000,000
2. Japan - National reserves: $1,019,000,000,000
3. Russia - National reserves: $458,020,000,000
4. Saudi Arabia - National reserves: $395,467,000,000
5. Taiwan - National reserves: $362,380,000,000
6. India - National reserves: $279,422,000,000
7. South Korea - National reserves: $274,220,000,000
8. Switzerland - National reserves: $262,000,000,000
9. Hong Kong, China - National reserves: $256,000,000,000
10. Brazil - National reserves: $255,000,000,000
The UK, likewise, while the country/people are rich, the government isn't. The UK government’s debt stands at $9 trillion now.
1. Peoples Republic of China - National reserves: $2,454,300,000,000
2. Japan - National reserves: $1,019,000,000,000
3. Russia - National reserves: $458,020,000,000
4. Saudi Arabia - National reserves: $395,467,000,000
5. Taiwan - National reserves: $362,380,000,000
6. India - National reserves: $279,422,000,000
7. South Korea - National reserves: $274,220,000,000
8. Switzerland - National reserves: $262,000,000,000
9. Hong Kong, China - National reserves: $256,000,000,000
10. Brazil - National reserves: $255,000,000,000
Others in million US$:
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
and so on.
Big national reserves doesn'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 gov't 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 gov't 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 68 yrs.
The Swiss gov't 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, debts over 250% GDP the country is bankrupted.
Greece's Debts 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 Bankrupted Nation.
Malaysia Debts Is Currently At 53.70% GDP.
Hong Kong And Taiwan Is 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
Russia Is Like A Big Mountain With Debts Only At 6.30% GDP
There Are Only 5 Countries With No Debt (ie. 0%) – Brunei, Liechtenstein, Palau, Nieu, And Macau Of China.
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
and so on.
Big national reserves doesn'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 gov't 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 gov't 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 68 yrs.
The Swiss gov't 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, debts over 250% GDP the country is bankrupted.
Greece's Debts 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 Bankrupted Nation.
Malaysia Debts Is Currently At 53.70% GDP.
Hong Kong And Taiwan Is 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
Russia Is Like A Big Mountain With Debts Only At 6.30% GDP
There Are Only 5 Countries With No Debt (ie. 0%) – Brunei, Liechtenstein, Palau, Nieu, And Macau Of China.
(highlights from an email forwarded by Bayi, source not stated)
I woke up this Sunday morning and decided to play around with the figures.
If Malaysia and Singapore were to be counted as one, the total national reserves would amount to US$299,536, and we would have overtaken India and taken its place at No.6!
Yet, this would not have been possible, not only because of political incompatibility but because as part of a merged country, Singapore would not have been able to achieve what it achieved! It is similar to Hong Kong being separate from China, and able to achieve more. We have to think in terms of the merged nation under either Dr. Mahathir or Lee Kuan Yew. So it could have been more squander or more reserves respectively.
On a per capita basis, Singapore fared even better when compared with Malaysia. Assuming a population of 5 million and 27 million respectively, it works out US$40,687 and US$3,559!
Singapore was more than 11 times better on a per capita basis, instead of just 2 times on a national reserves basis (US$203,436 and US$96,100).
On a more plausible yet politically sensitive note, if only Penang is allowed to be administered with more autonomy, especially in terms of less deliberate financial restrictions and less federal control on matters such as transportation, it would be interesting to see the difference in growth.
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