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Home > Business and Economics Books > Economics > International economics > The Debt Trap: How Sovereign Debt Became the Defining Crisis of Our Age(The Global Fault Lines)
The Debt Trap: How Sovereign Debt Became the Defining Crisis of Our Age(The Global Fault Lines)

The Debt Trap: How Sovereign Debt Became the Defining Crisis of Our Age(The Global Fault Lines)


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About the Book

The world is drowning in debt - and the reckoning is coming.

Sovereign debt has become the silent crisis of our age. The United States owes $35 trillion. China's hidden local-government debt may exceed $15 trillion. Europe's south remains shackled to German credit. And dozens of emerging markets are one interest-rate hike away from default.

In The Debt Trap, Nicholas Holt delivers the first truly global account of how nations borrowed their way to prosperity - and why the bill is about to come due. Drawing on central bank data, IMF reports, and on-the-ground reporting from capitals in crisis, Holt reveals the architecture of a financial system built on borrowed time.

Inside, you will discover:

  • How the United States transformed from the world's largest creditor to its largest debtor - and why the dollar's dominance makes the trap worse
  • China's hidden debt bomb: local government financing vehicles, shadow banking, and the property sector's slow-motion collapse
  • Debt-trap diplomacy exposed: when lending becomes a weapon of geopolitical coercion
  • The IMF's impossible dilemma: bailouts that save economies but destroy governments
  • Corporate debt's role in the coming crisis: leveraged buyouts, zombie companies, and the end of easy money

The book explores three possible futures:

  1. The Orderly Deleveraging: A generation of austerity, inflation, and managed defaults
  2. The Debt Jubilee: Mass forgiveness that reshapes the global financial order
  3. The Chaotic Default: A cascade of sovereign failures that triggers a new depression

For investors, policymakers, and citizens who need to understand the forces that will shape the next decade, The Debt Trap is the essential roadmap.


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Product Details
  • ISBN-13: 9798198872721
  • Publisher: Independently Published
  • Publisher Imprint: Independently Published
  • Height: 229 mm
  • No of Pages: 484
  • Returnable: N
  • Spine Width: 25 mm
  • Weight: 689 gr
  • ISBN-10: 8198872728
  • Publisher Date: 27 May 2026
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Series Title: The Global Fault Lines
  • Sub Title: How Sovereign Debt Became the Defining Crisis of Our Age
  • Width: 152 mm


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