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For decades, developed nations lectured emerging economies on fiscal discipline. Now, the tables have turned as India warns of a global "mountain of debt" that could come crashing down.

The “rich world” debt trap: Why India is sounding the alarm at Davos

At the World Economic Forum, India’s Union Minister Ashwini Vaishnaw flagged the massive debt in developed economies like the US and Japan. ...

January 22, 2026