Indebtedness was accelerated last year by the coronavirus pandemic as governments generously increased their spending to protect public health and prevent even worse economic turmoil.
Debt there are many and can be viewed from different perspectives. The fundamental question is how much is a lot, because in the world economy, debt has been rising for a long time.
Debt is the basis of economic activity. If there is no opportunity to take on debt, you cannot save either, because investments are also in debt. The banknote in the wallet is also the debt of the central bank to the person holding the banknote.