Global debt hits $365 trillion as France's borrowing costs soar

Global debt has surpassed $365 trillion, with governments worldwide facing rising interest costs that are straining public finances and fueling protests across Europe. France is at the center of the unrest, with over 550,000 people demonstrating over living costs and education. Its 10-year borrowing costs have hit 5 percent, the highest since 2002, exceeding rates in Italy and Greece. Advanced economies paid over $3.3 trillion in government bond interest in the past year, more than global defense spending. The US holds the largest government debt at $41.4 trillion, followed by China and Japan. France ranks fifth globally with $4.2 trillion in debt, projected to rise to 121.8 percent of GDP by 2030. Higher interest costs reduce funds for public services and can push up rates on mortgages and loans.