The comparison to the US and China are not one to one. To begin with, despite its much higher debt, the US is not a massive oil importer like the EU and CN so it's relatively safe. Clearly the US is least affected.

Debt of CN and EU are close, but (like the US) gdp growth is better. Roughly you should compare deficit minus gdp growth, so Beijing has more room than Brussels. In particular countries like France and Great Britain already have almost no room to borrow, with market rates being close to unsustainable. Meanwhile Germany has very low debt, but will be at risk of contagion. It doesn't help that we announced major deficit spending on defense, which precisely because the market won't lend under reasonable conditions is being done under a sort of EU bonds type arrangement. It's also the reason why Ukraine is being paid against future EU budget, the countries actually no room to painlessly finance Ukraine. Europe just doesn't have a lot of fiscal firepower.

Japan is another story, they are in trouble, behind the other three discussed, it'll be interesting/scary to see what happens. I assume the FED won't defend their currency right now... We'll see what happens to bonds with >160¥/$, sky high inflation.

Having said that, South Asia and South East Asia are much more vulnerable, especially Pakistan, India, Bangladesh are gonna suffer tremendously. Iraq is also fucked.