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Since 2008, the debt of nonfinancial corporations in emerging economies have grown much faster than in developed economies, increasing from 9.27 trillion U.S. dollars in 2008 to 38.74 trillion U.S. dollars in 2022. This constitutes an increase of more than 250 percent. Conversely, over the same period, corporate debt in developed economies grew by 35 percent, reaching 48.4 trillion U.S. dollars in 2022.