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 resort to borrowing. Till date the US government has borrowed $14 trillion. The UK likewise, while the country/people are rich, the government isn't. The UK government debts stood at $9 trillion now.
We know the world's richest man as Carlos Slim Helu of Mexico, followed by Bill Gates and Warren Buffet of USA. How about government, which countries government is the richest (having most money that is, in US$) If you are expecting North American and European nations, you might be disappointed. While the countries look rich, wealthy European nations can't withstood a prolonged major financial crisis, just like Greece.
Richest governments after 2008-2009 financial crisis:
Forbidden City, Beijing
National reserves: $2,454,300,000,000
Gunung Fuji, Jepang..
National reserves: $1,019,000,000,000
St_ Basil's Cathedral, Moscow, Russia
National reserves: $458,020,000,000
4. Saudi Arabia
National reserves: $395,467,000,000
National reserves: $362,380,000,000
National reserves: $279,422,000,000
7. South Korea
National reserves: $274,220,000,000
National reserves: $262,000,000,000
9. Hong Kong, China
National reserves: $256,000,000,000
National reserves: $255,000,000,000
Here are the rest, in million US$:
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
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
....... (aku copy paste sampai sini jek... hahar..)
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 gov't overspent $110bn last year, much on it towards modernizing their military, if it goes on their reserves can only last for 22 yrs.
The Malaysian gov't overspent $13bn last year, if it goes on 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 their reserves can last 68 yrs. The Swiss gov't overspent $1bn last year, if it goes on 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 (I.E. 0%) - Brunei, Liechtenstein, Palau, Nieu, And Macau Of China.
P/s: Sekian lecture Ekonomi kita pada hari ini. Jangan lupa study, next week saya akan buat Pop Kuiz. :p