I have to wonder if they are all banking on a "great reset" or "jubilee" to wipe all the debts out. This usually means the associated currencies are devalued considerably.
However, if they all decide to collaborate and do it at once, I wonder if the net effect of mass-devaluation on both sides would cancel each other out.
In any case, the amount of debt is staggering.
There should be some kind of law against borrowing from future generations. It isn't like they have a time machine to pop back and say "not so fast".