‘Our planet as a whole has a net debt, a net financial debt, which of course is not possible at a global level,’ he said. If you put the inflows and outflows of all the countries in the world into a spreadsheet, the sums should add up – all outflows are just someone else’s inflows – but they don’t. It’s like the list of countries’ foreign investment positions is missing an entry. One more country is needed in the spreadsheet to make the columns match: let’s put it between Monaco and Mongolia. That seems apt.
