What is the national debt?

The solution for countries where the whole people are unable to repay their debts is as follows:

1. After the Law on the Protection of Personal Information is officially implemented, all illegal collection activities will be stopped, so if any third-party collection company disturbs your family or friends, you can report complaints and protect your rights according to law.

2. The credit card cannot be repaid after it is overdue. As long as you have a stable income and are willing to pay back, no matter the four major banks or commercial banks, you can negotiate two installments, which can be paid off in 60 installments in five years at the longest. After the application is successful, it will not be received, so it will not be prosecuted.

3. The annualized interest rate of private lending is lowered to 14.8%.

4. Money from online lending platforms such as Huayuan, Borrowing, Online Business Loan, Gitzo, 360 Staging Music, Zhaolian and Ping An Pratt & Whitney. Still not available, it can be extended for up to five years, and some unreasonable insurance, service and guarantee fees can be reduced or exempted.

Reasons for national debt:

1, prices are rising.

The simplest reason for inflation is that the number of commodities in the market has not increased, but the amount of money in circulation has increased. In this case, commodity prices will rise, which is inflation. The direct impact of inflation is, of course, currency depreciation.

2. Consumption concept.

With the change of people's attitude towards consumption, the savings rate in China has actually declined in recent years. At the peak, the savings rate exceeded 50% and remained above 50% for many years. However, with the escalation of consumption, more and more people began to spend, which also led to the decline of China's savings rate.