We found this table from Brookings very interesting.  The net public debt per worker of the Advanced Economies in the G20 has increased from US$33K in 2007 t0 US$50.2 in 2010, an increase of 50 percent and projected to grow another 50 percent by 2015.  Clearly, this is too heavy of a burden and is not sustainable.  The Europeans believe it is causing such distress and uncertainty that consumers and business have cut back spending and economic growth will pick-up only when fiscal sustainability is restored.  Witness European austerity.

The table also shows the huge disparity of debt burdens between the Emerging Markets and the Advanced Economies, which is magnified given that 70 percent of world’s economic growth from 2007-10 has come from the Emerging Markets.  This will create great conflict and division in the G20 and will make it difficult to agree on anything of significance, and could even fracture the international structure.