A recent bank of America survey reveals that a significant portion of Generation Z relies on financial support from their parents and family members to meet their living expenses. This dependence highlights challenges faced by younger adults in achieving financial independence amid rising living costs.

Why Gen Z borrow from their family

Beijing has intensified efforts to curb the unchecked growth of informal backchannel borrowing, known as hidden debt, which poses a risk to China's financial stability.

China targets local governments, banks for hidden debt violations by naming and shaming them

Goldman Sachs predicts the cost of financing the US debt is about to be more expensive than ever. Goldman Sachs strategists have pointed to the rising cost of borrowing over the last year. In 2022, it cost the government 476 billion dollars, or around 2% of the national GDP, to pay the interest on its debt. Strategists estimate that interest payments are set to rise to 3% of GDP in 2024, and 4% of GDP by 2030.

Borrowing to get costlier in the US

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