Mumbai, June 10 -- Total global debt is now nearly 25 percent higher than it was on the eve of the COVID-19 pandemic, when it already was at an all-time high, Indermit Gill, Chief Economist of the World Bank Group, has stated in a latest blog post. This overhang could undercut all economies' ability to shield themselves against the latest shock: higher trade tariffs. While the global economy has held up remarkably well so far, the margin for error is dwindling. Although the world has so far managed to dodge a "systemic" financial meltdown of the 2008-09 variety, too many developing economies are now in a doom loop. To service their debts, many of these countries are cutting the investments-in education, health care, and infrastructure-tha...