Why is Everyone Suddenly Going Broke (except China)? (Level 1)

Around the world, borrowing costs for governments have risen sharply in recent days. Many countries now pay much more interest on their 10-year bonds. In the last six months, the rate on US bonds went from about 4% to almost 5%. France, the UK, Japan, and Germany also saw big increases. But China is different. Its borrowing costs have fallen. The rate on Chinese 10-year bonds is now about 1.6%, much lower than in other countries. Why? Most countries have fast-rising prices, large debts, and weak economies. The war in Iran has made prices rise even faster. But China has controls on money in and out, so it is less affected. China also stored lots of oil and uses more coal and renewable energy. Its economy is still growing, and its prices are almost not rising. There are early signs that Chinese bonds are becoming a safe place for investors.