Rising levels of domestic debt in emerging markets such as Turkey, China and Russia could undermine economies and restrict growth, according to insiders. Turkey's domestic debt has risen to 70% of gross domestic product in 2015, compared to 20% in 2000, while foreign debt has remained relatively unchanged at 10%. China's levels almost quadrupled following the 2008 financial crisis. Nick Eisinger, fund manager at Moody’s Investors Service said although the figures did not imply "armageddon", it did imply a forthcoming era of "muted growth".
Rising levels of domestic debt in emerging markets such as Turkey, China and Russia could undermine economies and restrict growth, according to insiders. Turkey's domestic debt has risen to 70% of gross domestic product in 2015, compared to 20% in 2000, while foreign debt has remained relatively unchanged at 10%. China's levels almost quadrupled following the 2008 financial crisis. Nick Eisinger, fund manager at Vanguard Group said although the figures did not imply "armageddon", it did imply a forthcoming era of "muted growth".