@@sepoy5346 US is a frenemy. Both have bigger fish (China) to fry for now, so they are likely to co-operate. But if US continues the isolationist policies that Trump is advocating for, US might just retreat to pearl harbor. Leaving South Korea and Japan to fend off Chinese influence. At that point, is it really worth to earn some export money at the cost of US-China escalation? I'd rather dissolve the military pact and beef my own military to just be neutral and play both sides.
Title: Why Japan hasn't collapsed. First 9 min of the video: why Japan should have collapsed. Only the last minute of the video provides some lackluster explanation to the question raised in the title.
We are the largest creditor in the world. LOL. Japan achieved 2.0% inflation thanks to the Abenomix. It's not about the economic stimulus but Japan is brave enough to clean up the non-performing loanes, which was painful for every one, but this is a huge difference between Japan and China.
China doesn't want US treasuries anymore and is selling them en masse for gold as a hedge against inflation and US bullying. China is sovereign where Japan has US military bases the japanese pay taxes for hosting.
The primary reason is most debt is domestically funded at a low interest rate. I suspect many other unusual trends in japan is a result of this as well. However note that the GDP per Person has been rising, so the people are still doing compartivly well. I am not certain how sustainable this is, but its working so far.
@@AnetaMihaylova-d6f I tend to agree, the current situation will likely lead to stagnation, but in the meantime most Japanese citizens have a reasonable living standard and rather good longevity.
@peterfmodel actually Japanese currency the yen is falling in value hard relative to other currencies. Japan economy isn't doing good at all like most people think it is
@@AnetaMihaylova-d6f That is correct if we look at the entire country; however GDP per Person in yen has been steadily increasing from 2009 and is higher than its last peak in 2007. So while the overall economy may be considered as flat, or even declining, the per person GDP in yen has gone up. As Japanese consumers typically don’t purchase much goods manufactured overseas the dropping yen has minimal impact on them. You can see that in inflation, which is very low. Oil is the largest variable import and it has unusually dropped. So if you were wealthy and powerful in Japan, life may not be so good, but if you are an average worker in japan, life seems rather good. The question is how long will this last. I am not certain.
@peterfmodel it is increasing because the yen is falling. So basically in real terms it is not increasing just in nominal which isn't anything of value
The Japanese knew how to save for a rainy day when times were good and invested their wealth accumulated abroad by ivesting in US T-Bills/Notes/Bonds, Loans, Pension Funds, Companies abroad etc. Being a Creditor Nation to many countries chiefly the USA, how could the country default on its Debt, goes Bankrupt or go into Depression? The wealth reserves abroad is also many times more than its public debt. They also did not need to borrow from the IMF or World Bank which made many countries, which did, worst off by making even worst financial and economic policies.
@@AnetaMihaylova-d6f the western media doesn't like the fact that japan is doing well and constantly reports propaganda that the japanese economy is going bankrupt or will collapse. you are the one who has been deceived by this propaganda. Even if the japanese economy were to collapse, the west would collapse first at that time. Everything CL lee is saying is true.
@@AnetaMihaylova-d6f the western media doesn't like the fact that japan is doing well and constantly reports BS that the japanese economy is going bankrupt or will collapse. you are the one who has been deceived by this BS. Even if the japanese economy were to collapse, the west would collapse first at that time. Everything CL lee is saying is true.
Let me save you all some time and answer the question... Governments that issue their own fiat currency can print money to pay debt and interest (see MMT}. What would cause a collapse is a lack of confidence in the issuing government (MMT proponents often forget this). Japan is a highly productive society (it has global trust) therefore it has been able to inflate its debt bubble this long/large. However, eventually people will lose trust and you are already seeing this somewhat with the yen's weakness. Japanese demographics are terrible and globalism is waning so its exports will have less buyers which will cause more pain. Additionally Japan is largely backstopped by the US, the FED isn't going to let Japan completely collapse.
@CaigoWayabe "collapse" is a pretty unrealistic scenario for Japan outside of some direct black swan geopolitical event. Japan is more likely to be a slow decline like we've seen as it is a highly diversified economy. Collapse happens to economies that are heavily dependent upon one or a few industries... Think about Saudi Arabia and if oil prices fell in half. But to answer your question it's hard to know what impact it would have on the US.
It’s all very interesting and hypothetical? What if the USA is broke and Uncle Sam not come to the rescue. If your on a sinking ship it’s not save everyone else, it’s save yourself. Also being orderly saving yourself won’t come into it and as people panic? People die.
@@shanelampard1114 that's a little hard to imagine at the moment with the strength of the US dollar. The US has done an absolutely horrendous job managing its currency and deficits... But it's done a better job than pretty much everyone else lol
@@shanelampard1114 I would also add that after the US elections yesterday it's really hard to imagine a strong collapse in the dollar... Fiat currencies are all about confidence and it's pretty clear Trump is going to run lower deficits than Biden did (Trump's annual deficits except for covid in 2020 were a fraction of Biden's). This will send a signal that the US is heading in a positive direction (even though the feds are still running fiscal deficits) and that will strengthen the dollar even more. I recommend studying the dollar milkshake theory for more insight on this.
Again, politicians do not understand their people. Japanese people borrowed massive personal debts to invest in real estate during the 1980s. When the 1990s property bubble burst, almost all Japanese people had personals debts that are bigger than the market value of their real estate investments. If the value of your mortgage is bigger than the value of your house, then you have negative equity real estate. So Japanese people focused on paying down or refinancing their massive personal debts to keep their households solvent. That caused Japanese people to stop spending and investing altogether leading to over 3 decades of economic stagnation. If the Japanese government wanted to save their people from their debt burdens and encourage spending, investing, and also raising families then how about the government write off their citizens’ debts and reset every family’s household finances. Bail out your citizens, not your banks, enterprises, and companies. No one in human history has ever tried that economic experiment. So I wonder if it will work or not.
Wiping out consumer debt has been done countless times by the ruling class since the Roman Empire up through the French Empire. It was common practice and necessary to keep society whole. The issue is we stopped doing that in modern times
I like your comment, especially the first half of it. That pretty much sums up Japanese macro and microeconomics. I am Japanese. The only sentence I like to mention further is your 6th sentence. Under low interest rate, Japanese invested overseas instead of domestic. As a result Japanese became one of the largest creditors overseas and thats the reason why we did not or could not invest domestic. so at a personal finance level, while you pay off your morgages and debt, please remember you also save or invest some money at the same time. If you can do that, at the end of 3 decades, you pay off debt, which brings you real assets you own and your investment intact. Of course it is easier said than done, but looking back my own life thats what I did. I started off with 200k morgage. 20+ years later I have fair amount of investment and my own house with no collateral.
It worked well in a low-interest-rate environment with a strong yen, but what about the future? We must not forget the fact that, even though money has been injected into the private sector, no growth industries like GAFAM have emerged, and we are in a state of trade defici
This is the very reason every country has the reserve bank to print notes limitlessly. Japan's net assets is a lot higher against that of the USA. So is China's, Germany's and UK's. The USA finance will collapse overnight, theoretically, when they withdraw their investment from there. The US Reserve Bank can also continue to print greenbacks. No problem.
how? are they going to sell US debt? how? are they all willing to lose thire money? FRB just prints more money to repay the debt. who won in this scenario?
Japan continues to be a highly advanced nation, maintaining significant leadership in fields like AI, medical technology, and scientific research. Despite facing some economic challenges, such as an aging population and increased competition from emerging markets, Japan remains a global leader in many high-tech industries. It is far from being on par with developing nations. Additionally, Japan has been selling some of its holdings in U.S. Treasury bonds, but it’s important to note that the United States still owes Japan approximately $1.3 trillion in Treasury debt.
The printing actually takes in the form of deficit spending. Which is increasing the amount of net government debt. The Central Bank buying and selling government debt simply controls the interest rate. That is called open market operations. Because the government has the ability to compel the central bank to buy government debt with newly created money. That makes the government’s debt interchangeable with Central bank money. It’s just another form of money. Bank deposits are the liabilities of banks. Banks hold reserves with the Central Bank. Those reserves are the liabilities of the Central bank as well as printed currency. Government debt is the liability of the national government. Ultimately, the government is the foundation of all these forms of money.
Japanese government owes such debts, but Japan has the largest foreign assets, current account surplus, and best people in the world. It is like Japanese government is a spoiled son among the Japan family members.
And China has a large Industrial base + many new innovations in tech + a wide trading global network ( with ASEAN bilateral trade with China is already USD 1 Trillion per year ). China debt to GDP is also around 300 %. due to their Real Estate bubble and Infrastructure investment.
If Japan were to go bankrupt, the United States could also face bankruptcy due to several interrelated factors such as economic interdependence, deteriorating trade relations, a decline in international credibility, and the risk of a cascading financial crisis. Japan is the largest foreign holder of U.S. Treasury bonds, and its bankruptcy would deliver a significant shock to the U.S. financial markets, undermining America's credit and potentially destabilizing the entire financial system. Additionally, Japan is a key trading partner for the United States; a crisis in Japan’s economy would lead to decreased exports, negatively impacting American companies and employment, thereby destabilizing the overall economy. Furthermore, Japan's bankruptcy would damage international economic credibility, prompting investors to withdraw funds from the U.S., which would further erode trust in the American economy. Given the complex interdependence of the global financial system, the risk of a cascading financial crisis increases significantly. As seen during the 2008 financial crisis, the repercussions could extend to other countries, ultimately affecting the United States, which is why it can be argued that if Japan were to go bankrupt, the U.S. could also face bankruptcy as a result of these interconnected dynamics.
Japan's debt is owned by domestically, that's correct, but much of the debt is levered up to gain exposure to risk assets in the US in what is known as the Yen carry trade?
Very poor misleading video. Japanese government has debt. To whom? To it's central bank. As the video explains the government may have debt to banks etc., but that debt will eventually be purchased back by the central bank (quantitate easing). This essentially means it has debt to itself (meaning government + central bank = extended government). The word "government debt" is misleading because it just shows amount of money government put into economy. If the government ever tries to pay its "debt", then it has to tax all the money in economy, which is absurd because there will be no money. The video also says that after 1990s, Japanese government was currying out extensive fiscal policies to date. But increased government "debt" doesn't mean fiscal policy. That "debt" was basically went to create another asset bubble, but not increase consumption. That's why there is this persistent deflation. Therefore just increasing "government debt" (i.e. increasing money supply) isn't enough; the crucial thing is how that money is used. Instead of stymulating consumption, Japanese government was increasing consumption tax; no wonder they failed to achieve economic growth.
and one of the reason is japan just hope money and they dont think about another problem \\\\\\ but i believe japan have potential to fix that problem when many people support japan again that support china ,china also need help japan cause japan have their formula how to being amazing and rich like now ,in japan not just they population is descress and less but they also have the number of the died ,died cause of overworking and they payment also less that past year and ctrazy high tax ,in malaysia we have almost 8% tax but still ok as small economy but look at the japan ,they size economy is so big that they country is just island and long terms ,but japan is genius they know how to handle it with japan economy
@@AnetaMihaylova-d6f@AnetaMihaylova-d6f Yeah, you can argue that, but the interest rate gap between JPY and USD is converging, so it won't be weak for long.
@@AnetaMihaylova-d6f The Japanese yen (JPY) is generally stronger and has a higher value than the South Korean won (KRW). As of the latest exchange rates, 1 Japanese yen is worth more than 1 South Korean won. However, this exchange rate disparity doesn't diminish the fact that Japan leads in technological advancement.
@@AnetaMihaylova-d6f Actually, economic growth is strongly influenced by a country's level of technological advancement. Advanced technology drives productivity, innovation, and competitive industries, which all contribute to profits and strengthen the nation. While economic principles and exchange rates are also important, technology often plays a critical role in a nation’s ability to grow and compete on a global scale.
Please compare the absolute total amount of external assets and liabilities held by the Japanese government and make a forecast for Japan's economy over the next 10 years.
Why Japan Hasn't Collapsed from Its Debt - As of 2024, Japan continues to be a global leader in technology, including fields like artificial intelligence (AI), medical advancements, and scientific innovation. Here are some key points: 1. AI and Robotics Japan is home to some of the world’s most advanced AI research and robotics companies. Major corporations like Sony, Honda, and Toyota are at the forefront of AI innovation, with applications ranging from autonomous vehicles to advanced robotics. Japan also leads in humanoid robots (e.g., Sophia by Hanson Robotics) and robotics for industrial and medical purposes. The government has invested significantly in AI and robotics to maintain its competitive edge. 2. Medical Technology Japan is a global leader in medical technology, particularly in healthcare robotics, pharmaceuticals, and biotechnology. Companies like Fujifilm, Toshiba, and Hitachi are major players in diagnostic imaging, and Japan's healthcare system is known for its high-tech medical equipment and services. Japan also has cutting-edge research in areas like regenerative medicine, gene therapy, and aging-related healthcare, given the country's aging population. 3. Scientific Research and Space Exploration Japan remains a major force in scientific research and space exploration. The Japan Aerospace Exploration Agency (JAXA) continues to make significant strides, such as its missions to the moon and Mars. Japan's work in environmental sciences, physics, and materials science is also internationally recognized. 4. Economic and Technological Position Japan’s economy is still one of the largest in the world, with strong sectors in manufacturing, technology, and innovation. While Japan does face challenges like an aging population, slow population growth, and a competitive global economy, it is far from "bankrupt" or technologically behind. The country remains at the forefront of technological development, with a high standard of living, sophisticated infrastructure, and a robust industrial sector. 5. Global Collaboration Japan actively collaborates with other global technology leaders, such as the United States, South Korea, and European Union, to advance fields like AI, 5G, quantum computing, and biotechnology. Japan also contributes heavily to international scientific research projects, such as the Large Hadron Collider (LHC) in Europe and global environmental initiatives. Conclusion Japan remains a technologically advanced nation with significant influence in AI, medical technology, and scientific research. While there are some economic challenges, such as demographic shifts and competition from emerging markets, Japan is still considered a leader in many high-tech industries. It is far from being in a position comparable to developing or third-world countries. ~~~ Plus they're selling a few American Treasury already. And the United States owes Japan 1.3 Trillion.
The so called reduction in the CPI looks like price stability. How is price stability a problem? Increases in the CPI lead to higher interest rates. How are high interest rates helpful if the levels of are high?
I guess it is because although the Japanese economy is bad but Japanese oversea companies earn a lot of money from their local market. There is a another Japan outside Japan. But the problem is their market share is shrinking.
Debt issued in the fiat curreny of the issuing nation is worthless. Completely meaningless, can be repaid at anytime with the flip of a digital fiat switch. The issue is currency value, not debt.
Too bad japan tourism is already crowded and even contributed up to 10-11% of their GDP. Otherwise they can even push it to 15-20% but need to make new tourist hotspot other than Tokyo,Kyoto, Osaka. 😅
Your reference to 1990 property bubble and stocks... Isn't this is what we are seeing in China now in 2024? Hence seems to see this trend coming on to China. Investers are moving out and foreign funds are not coming in....
China is bursting the bubble before it burst on its own thus could have a short term economic consequences. This began way back in 2022. The US is mirroring Japan as the stocks are overinflated and the real estate is at its peak
The first thing we need to consider like for instance a difference between Japan and Greece is Japan issues its own currency whereas Greece uses the euro.
8:56 okay I might be jumping the gun on this but we talk about Japan and I see that they have Greece, with the headline"explaining Greece's debt crisis", and the big elephant in the room is the fact that Greece surrendered its currency issuing sovereignty to the central bank of the European Union through the euro.
Can someone explain why everybody is saying Japan had an economic stagnation, and no domestic investments since the 90s, but still if you go to japan you think you're in the future? (for the last 30 years!) High speed trains, clean streets, skyscrapers, innovations, robots... Maybe the measuring of economic stagnation are wrong don't you think? Deficits, debt to GDP, GDP. These numbers does not tell the true story. They're just easy to calculate so economists use them.
I wish India finds extremely giant reserves of oil, gas or any other high value and high demand resource, so that India can get rich in a short span of time like the Gulf.
India has many things that gulf countries can dream about.. 1, geographic location, three side by sea and one side by mountain.. 2, located near maritime silk road .. 3, good climate and farmable lands... Only thing it lack is good leadership..
Because Japan's debt is domestic loan, owned by its high-income citizens. Japan had a powerful financial/industrial foundation before World War 1, while other Asian countries was bullied by Western imperialists.
I was relieved that my Asian friends remembered the colonial rule We were trying to create an EU-like economic group with our Asian friends Because we were being forced to have unequal treaties from other continents But we lost the WW2…
@@まる-b8b No, you were trying to be the biggest imperial power in Asia of all. You were doing the same things as the French, British, Germans, Portuguese, Dutch, etc. I hate to break it to you, but Koreans didn't and don't appreciate that period of their history. The Chinese definitely don't appreciate your efforts, either. Nor, for that matter, do Filipinos, Malaysians, Singaporeans, Indonesians or Vietnamese.
@@Bunnyroo7 It was Japan that made Korea independent from the Qing Chineses say that Korea was a vassal state of the Qing When the Japan military withdrew from Korea, it signed to the United States on the condition that South Korea and North Korea become independent together. But they betrayed and Korea was divided If japan want to invaded Korea, why is Korea divided now? Japan and China participated in conferences with Myanmar, Thailand, and others, and even drafted a treaty to form an Asian economic group but It was canceled by Western countries
@@まる-b8b Korea was a tributary state of the Qing, not a vassal state. China's form of diplomacy was very much unlike the European one. In Europe, there was never truly a dominant power, so European diplomacy was always shaped by negotiation and the formation of shifting alliances in order to maintain a balance. In East Asia, China was so dominant that it imposed the terms of diplomacy. The only country that could challenge that was Japan, which stepped in and out of that system as it saw fit. Korea had a complicated relationship with China. It was the closest, loyalest of allies. The Joseon, especially, were very close to China because their legitimacy rested on their relationship with the Ming. The fall of the Ming and rise of the Qing was deeply painful for Korea. Still, the Qing largely abided by the old terms. They did not interfere with Korea's internal affairs and Korea's ruling elite were happy enough to maintain that system. As for Japan making Korea independent... By what, colonising it? I understand Japan's position. Japan wanted to maintain its independence at all costs, and Korea was Japan's strategic weak point -- much like Ireland was Britain's. Korea became independent not because of Japan, but because Japan lost the Second World War. If Japan hadn't entered that war, or if it had won, Korea would be a part of Japan to this day in the same way that Taiwan would be. If anything, Korea's painful division was a direct result of Japanese rule as Japan created the situation that led to Korean partition. Until the 1930s, Japan wasn't necessarily any worse than anyone else. The French were hardly delightful in Indochina and British rule of India and Burma was uneven to say the best.Japan brought, on balance, many positive changes to Taiwan and even Japanese rule of Korea, while not gentle or kind, was not as brutal as Korean nationalists often make it out to be. It also came with the parasitic Yangban class being removed from power at long last, which allowed Korea to start modernising and developing. Your arguments are, however, spurious. They were the actions of a militant, revisionist country that wished to be the biggest power in the region, not some form of altruism.
Japan as an economic superpower is now a thing of the past, and few young Japanese people believe Japan is an advanced nation. As a result, many Japanese people have pesimistic views about their future. In order to offset the shortage of workforce, some politicians insist that the Japanese labor market should be open to immigrants, but a lot of Japanese people are concerned about the inflow of newcomers from overseas.
Greece does not have it's own currency, it uses the Euro - that is why it collapsed, and why the eurozone will fall apart unless it federates. Government debt is irrelevant so long as it is in your own currency. The BoJ can buy as many bonds as they want and sit on them until they expire, and that is exactly what they are doing. The "bond vigilantes" have been repeatedly broken by the BoJ, because they know that they ultimately control any debt denominated in Yen, not "the market". The BoJ proves with their actions that neoclassical economics is a fraud.
But this will cause inflation as well due to the degradation of the yen. Japan being an import driven economy for most of its consumer goods and raw materials
Every country have debts..USA, India, Russia , China, Pakistan etd. What we have to see is where the borrowed money is going. Is it invested in the ventures that have good prospective returns in the future. Is it being pilfered off by the corrupt officials. Now you know why Japan is not going to collapse but China and Pakistan surely will.
Because of High Taxes,Storng service center and Hugh amount of exports Keep japan still strong Evan IT have 250% debt otherwise it will collapse like Pakistan,Sri lanka,Zambia or on declining like Italy if japan Cant Finished with its 250% debt how USA will Collapse with its 115% debt😅? meanwhile USA have Strong service and export sector more than japan
It's also important to keep in mind that so long as a country has its own currency, it can still retain enough control to prevent complete collapse. Italy has a special challenge in that it does not have its own currency and cannot fully control its fiscal policies.
The money principle must be based on using money as a medium of exchange not as a commodity. To deal the money as a commodity is to destroy its worth the easy way is to stop, forbid and abolish the direct exchange and swaps of currencies and to couple the exchange of currencies with the exchange of commodities. If a Japanese exporter/ importer wants to import from US /Britain/Russia/China then he should invite bids for his exports in in US dollars/ Lbs/ Rubbles/chinese to the extent of his imports from such countries . The conversion and reconversion process will be reduced the central banks will be freed from their 9:56 burden of issuing new rates of exchange of currencies their day to day business of long and short term measures of open market operations will also reduced The fake business of money exchange will come to an end . the inflation and devaluation will also be reduced and will be rationalised and the deficit of in the trade and payments will be reduced the balance of trade and and payments will be normalised and the imbalance ratio of exports and imports will also be flattened .
Is it possible that Japan and other G7 countries will not collapse because they seized a lot of treasures from their colonized countries and have not been touched? 😅
Do you think Japan's debt will continue to rise, and will it eventually lead to Japan's collapse?
Nahh Japan still has huge forex stock and USA behind it
@@sepoy5346 Japan will collapse alongside US when their forex stock become worthless.
Debt still rise but I don't think Japan will collapse soon
mmmm
@@sepoy5346 US is a frenemy. Both have bigger fish (China) to fry for now, so they are likely to co-operate. But if US continues the isolationist policies that Trump is advocating for, US might just retreat to pearl harbor. Leaving South Korea and Japan to fend off Chinese influence.
At that point, is it really worth to earn some export money at the cost of US-China escalation? I'd rather dissolve the military pact and beef my own military to just be neutral and play both sides.
Title: Why Japan hasn't collapsed.
First 9 min of the video: why Japan should have collapsed.
Only the last minute of the video provides some lackluster explanation to the question raised in the title.
💙Thanks
Fking hate these youtube videos with crap titles that go so far off the tangent that'd usually net you an F in school back then.
Shud have save my time & go to the comment section in the first place
Thank you i skipped it
Title: Do your own homework. Don't complain about a video. It was a great video.
Please don't put background music in your videos it's very distracting to the video dialogue.
I agree too
We are the largest creditor in the world. LOL. Japan achieved 2.0% inflation thanks to the Abenomix. It's not about the economic stimulus but Japan is brave enough to clean up the non-performing loanes, which was painful for every one, but this is a huge difference between Japan and China.
China doesn't want US treasuries anymore and is selling them en masse for gold as a hedge against inflation and US bullying. China is sovereign where Japan has US military bases the japanese pay taxes for hosting.
Inflation happens because of import price increase not abenomix
Inflation is about money supply @@김성민-l9m
Not accurate analysis. Japan have 2GDP, local and overseas. And their debts is NOT all Debts but holding assets.
The primary reason is most debt is domestically funded at a low interest rate. I suspect many other unusual trends in japan is a result of this as well. However note that the GDP per Person has been rising, so the people are still doing compartivly well. I am not certain how sustainable this is, but its working so far.
It won't work forever though
@@AnetaMihaylova-d6f I tend to agree, the current situation will likely lead to stagnation, but in the meantime most Japanese citizens have a reasonable living standard and rather good longevity.
@peterfmodel actually Japanese currency the yen is falling in value hard relative to other currencies. Japan economy isn't doing good at all like most people think it is
@@AnetaMihaylova-d6f That is correct if we look at the entire country; however GDP per Person in yen has been steadily increasing from 2009 and is higher than its last peak in 2007. So while the overall economy may be considered as flat, or even declining, the per person GDP in yen has gone up. As Japanese consumers typically don’t purchase much goods manufactured overseas the dropping yen has minimal impact on them. You can see that in inflation, which is very low. Oil is the largest variable import and it has unusually dropped. So if you were wealthy and powerful in Japan, life may not be so good, but if you are an average worker in japan, life seems rather good. The question is how long will this last. I am not certain.
@peterfmodel it is increasing because the yen is falling. So basically in real terms it is not increasing just in nominal which isn't anything of value
The Japanese knew how to save for a rainy day when times were good and invested their wealth accumulated abroad by ivesting in US T-Bills/Notes/Bonds, Loans, Pension Funds, Companies abroad etc. Being a Creditor Nation to many countries chiefly the USA, how could the country default on its Debt, goes Bankrupt or go into Depression? The wealth reserves abroad is also many times more than its public debt. They also did not need to borrow from the IMF or World Bank which made many countries, which did, worst off by making even worst financial and economic policies.
Your comment is way more complete than the video.
@teresamexico309 problem is these times are long gone ... and Japanese economy has been doing badly
@@AnetaMihaylova-d6f Well, it is always said that Japan is going to crash and it never does Only time will tell.
@@AnetaMihaylova-d6f the western media doesn't like the fact that japan is doing well and constantly reports propaganda that the japanese economy is going bankrupt or will collapse. you are the one who has been deceived by this propaganda. Even if the japanese economy were to collapse, the west would collapse first at that time. Everything CL lee is saying is true.
@@AnetaMihaylova-d6f the western media doesn't like the fact that japan is doing well and constantly reports BS that the japanese economy is going bankrupt or will collapse. you are the one who has been deceived by this BS. Even if the japanese economy were to collapse, the west would collapse first at that time. Everything CL lee is saying is true.
Let me save you all some time and answer the question... Governments that issue their own fiat currency can print money to pay debt and interest (see MMT}. What would cause a collapse is a lack of confidence in the issuing government (MMT proponents often forget this). Japan is a highly productive society (it has global trust) therefore it has been able to inflate its debt bubble this long/large. However, eventually people will lose trust and you are already seeing this somewhat with the yen's weakness. Japanese demographics are terrible and globalism is waning so its exports will have less buyers which will cause more pain. Additionally Japan is largely backstopped by the US, the FED isn't going to let Japan completely collapse.
How would Japan's economy collapse would effect the US and the FED?
@CaigoWayabe "collapse" is a pretty unrealistic scenario for Japan outside of some direct black swan geopolitical event. Japan is more likely to be a slow decline like we've seen as it is a highly diversified economy. Collapse happens to economies that are heavily dependent upon one or a few industries... Think about Saudi Arabia and if oil prices fell in half. But to answer your question it's hard to know what impact it would have on the US.
It’s all very interesting and hypothetical? What if the USA is broke and Uncle Sam not come to the rescue. If your on a sinking ship it’s not save everyone else, it’s save yourself. Also being orderly saving yourself won’t come into it and as people panic? People die.
@@shanelampard1114 that's a little hard to imagine at the moment with the strength of the US dollar. The US has done an absolutely horrendous job managing its currency and deficits... But it's done a better job than pretty much everyone else lol
@@shanelampard1114 I would also add that after the US elections yesterday it's really hard to imagine a strong collapse in the dollar... Fiat currencies are all about confidence and it's pretty clear Trump is going to run lower deficits than Biden did (Trump's annual deficits except for covid in 2020 were a fraction of Biden's). This will send a signal that the US is heading in a positive direction (even though the feds are still running fiscal deficits) and that will strengthen the dollar even more. I recommend studying the dollar milkshake theory for more insight on this.
America has the American Dream and Japan has the Bubble era dream
Both dreams are things of the past.
@MrEjidorie mostly yes
@MrEjidorienope Japan has good standard of living and the American dream is still a thing
@AnetaMihaylova-d6f"mostly" it's a big no the Japanese and American are still a thing
@ Then what’s with MAGA?
Take a look the asset for the debit. It should be balanced. Then it's OK.
Again, politicians do not understand their people.
Japanese people borrowed massive personal debts to invest in real estate during the 1980s.
When the 1990s property bubble burst, almost all Japanese people had personals debts that are bigger than the market value of their real estate investments.
If the value of your mortgage is bigger than the value of your house, then you have negative equity real estate.
So Japanese people focused on paying down or refinancing their massive personal debts to keep their households solvent.
That caused Japanese people to stop spending and investing altogether leading to over 3 decades of economic stagnation.
If the Japanese government wanted to save their people from their debt burdens and encourage spending, investing, and also raising families then how about the government write off their citizens’ debts and reset every family’s household finances.
Bail out your citizens, not your banks, enterprises, and companies.
No one in human history has ever tried that economic experiment.
So I wonder if it will work or not.
still i cannot imagine how the smart country and future life like japan can living in sick now
I remember Obama did that after he bailed out the banks.
Wiping out consumer debt has been done countless times by the ruling class since the Roman Empire up through the French Empire. It was common practice and necessary to keep society whole.
The issue is we stopped doing that in modern times
I like your comment, especially the first half of it. That pretty much sums up Japanese macro and microeconomics.
I am Japanese.
The only sentence I like to mention further is your 6th sentence.
Under low interest rate, Japanese invested overseas instead of domestic.
As a result Japanese became one of the largest creditors overseas and thats the reason why we did not or could not invest domestic.
so at a personal finance level, while you pay off your morgages and debt, please remember you also save or invest some money at the same time.
If you can do that, at the end of 3 decades, you pay off debt, which brings you real assets you own and your investment intact.
Of course it is easier said than done, but looking back my own life thats what I did.
I started off with 200k morgage. 20+ years later I have fair amount of investment and my own house with no collateral.
@@amirrezza-b5v
日本は80年前まで階級社会の国でした
王政や階級制度は長い歴史を見ると効率的な国のシステムだと最近気づきました
エジプトのピラミッドには「王バンザイ」と書かれていた
It worked well in a low-interest-rate environment with a strong yen, but what about the future?
We must not forget the fact that, even though money has been injected into the private sector,
no growth industries like GAFAM have emerged, and we are in a state of trade defici
This is the very reason every country has the reserve bank to print notes limitlessly. Japan's net assets is a lot higher against that of the USA. So is China's, Germany's and UK's. The USA finance will collapse overnight, theoretically, when they withdraw their investment from there. The US Reserve Bank can also continue to print greenbacks. No problem.
how? are they going to sell US debt? how?
are they all willing to lose thire money?
FRB just prints more money to repay the debt. who won in this scenario?
Japan continues to be a highly advanced nation, maintaining significant leadership in fields like AI, medical technology, and scientific research. Despite facing some economic challenges, such as an aging population and increased competition from emerging markets, Japan remains a global leader in many high-tech industries. It is far from being on par with developing nations.
Additionally, Japan has been selling some of its holdings in U.S. Treasury bonds, but it’s important to note that the United States still owes Japan approximately $1.3 trillion in Treasury debt.
The printing actually takes in the form of deficit spending. Which is increasing the amount of net government debt.
The Central Bank buying and selling government debt simply controls the interest rate. That is called open market operations.
Because the government has the ability to compel the central bank to buy government debt with newly created money. That makes the government’s debt interchangeable with Central bank money. It’s just another form of money.
Bank deposits are the liabilities of banks. Banks hold reserves with the Central Bank. Those reserves are the liabilities of the Central bank as well as printed currency.
Government debt is the liability of the national government.
Ultimately, the government is the foundation of all these forms of money.
Japanese government owes such debts, but Japan has the largest foreign assets, current account surplus, and best people in the world. It is like Japanese government is a spoiled son among the Japan family members.
China has The largest assets and current account surpluses
And China has a large Industrial base + many new innovations in tech + a wide trading global network ( with ASEAN bilateral trade with China is already USD 1 Trillion per year ). China debt to GDP is also around 300 %. due to their Real Estate bubble and Infrastructure investment.
If Japan were to go bankrupt, the United States could also face bankruptcy due to several interrelated factors such as economic interdependence, deteriorating trade relations, a decline in international credibility, and the risk of a cascading financial crisis. Japan is the largest foreign holder of U.S. Treasury bonds, and its bankruptcy would deliver a significant shock to the U.S. financial markets, undermining America's credit and potentially destabilizing the entire financial system. Additionally, Japan is a key trading partner for the United States; a crisis in Japan’s economy would lead to decreased exports, negatively impacting American companies and employment, thereby destabilizing the overall economy. Furthermore, Japan's bankruptcy would damage international economic credibility, prompting investors to withdraw funds from the U.S., which would further erode trust in the American economy. Given the complex interdependence of the global financial system, the risk of a cascading financial crisis increases significantly. As seen during the 2008 financial crisis, the repercussions could extend to other countries, ultimately affecting the United States, which is why it can be argued that if Japan were to go bankrupt, the U.S. could also face bankruptcy as a result of these interconnected dynamics.
Japan's debt is owned by domestically, that's correct, but much of the debt is levered up to gain exposure to risk assets in the US in what is known as the Yen carry trade?
Very poor misleading video. Japanese government has debt. To whom? To it's central bank.
As the video explains the government may have debt to banks etc., but that debt will eventually be purchased back by the central bank (quantitate easing). This essentially means it has debt to itself (meaning government + central bank = extended government). The word "government debt" is misleading because it just shows amount of money government put into economy. If the government ever tries to pay its "debt", then it has to tax all the money in economy, which is absurd because there will be no money. The video also says that after 1990s, Japanese government was currying out extensive fiscal policies to date. But increased government "debt" doesn't mean fiscal policy. That "debt" was basically went to create another asset bubble, but not increase consumption. That's why there is this persistent deflation. Therefore just increasing "government debt" (i.e. increasing money supply) isn't enough; the crucial thing is how that money is used. Instead of stymulating consumption, Japanese government was increasing consumption tax; no wonder they failed to achieve economic growth.
and one of the reason is japan just hope money and they dont think about another problem \\\\\\ but i believe japan have potential to fix that problem when many people support japan again that support china ,china also need help japan cause japan have their formula how to being amazing and rich like now ,in japan not just they population is descress and less but they also have the number of the died ,died cause of overworking and they payment also less that past year and ctrazy high tax ,in malaysia we have almost 8% tax but still ok as small economy but look at the japan ,they size economy is so big that they country is just island and long terms ,but japan is genius they know how to handle it with japan economy
Japanese debts are fundamentally different from those of the other countries with high debt ratios
Yes that's why the the yen is weak ....
@@AnetaMihaylova-d6f@AnetaMihaylova-d6f Yeah, you can argue that, but the interest rate gap between JPY and USD is converging, so it won't be weak for long.
@@AnetaMihaylova-d6f The Japanese yen (JPY) is generally stronger and has a higher value than the South Korean won (KRW). As of the latest exchange rates, 1 Japanese yen is worth more than 1 South Korean won. However, this exchange rate disparity doesn't diminish the fact that Japan leads in technological advancement.
@JKL_02009 economics principles and exchange rates have nothing to do with technological advancements
@@AnetaMihaylova-d6f Actually, economic growth is strongly influenced by a country's level of technological advancement. Advanced technology drives productivity, innovation, and competitive industries, which all contribute to profits and strengthen the nation. While economic principles and exchange rates are also important, technology often plays a critical role in a nation’s ability to grow and compete on a global scale.
Please compare the absolute total amount of external assets and liabilities held by the Japanese government and make a forecast for Japan's economy over the next 10 years.
Why Japan Hasn't Collapsed from Its Debt - As of 2024, Japan continues to be a global leader in technology, including fields like artificial intelligence (AI), medical advancements, and scientific innovation. Here are some key points:
1. AI and Robotics
Japan is home to some of the world’s most advanced AI research and robotics companies. Major corporations like Sony, Honda, and Toyota are at the forefront of AI innovation, with applications ranging from autonomous vehicles to advanced robotics. Japan also leads in humanoid robots (e.g., Sophia by Hanson Robotics) and robotics for industrial and medical purposes. The government has invested significantly in AI and robotics to maintain its competitive edge.
2. Medical Technology
Japan is a global leader in medical technology, particularly in healthcare robotics, pharmaceuticals, and biotechnology. Companies like Fujifilm, Toshiba, and Hitachi are major players in diagnostic imaging, and Japan's healthcare system is known for its high-tech medical equipment and services. Japan also has cutting-edge research in areas like regenerative medicine, gene therapy, and aging-related healthcare, given the country's aging population.
3. Scientific Research and Space Exploration
Japan remains a major force in scientific research and space exploration. The Japan Aerospace Exploration Agency (JAXA) continues to make significant strides, such as its missions to the moon and Mars. Japan's work in environmental sciences, physics, and materials science is also internationally recognized.
4. Economic and Technological Position
Japan’s economy is still one of the largest in the world, with strong sectors in manufacturing, technology, and innovation. While Japan does face challenges like an aging population, slow population growth, and a competitive global economy, it is far from "bankrupt" or technologically behind. The country remains at the forefront of technological development, with a high standard of living, sophisticated infrastructure, and a robust industrial sector.
5. Global Collaboration
Japan actively collaborates with other global technology leaders, such as the United States, South Korea, and European Union, to advance fields like AI, 5G, quantum computing, and biotechnology. Japan also contributes heavily to international scientific research projects, such as the Large Hadron Collider (LHC) in Europe and global environmental initiatives.
Conclusion
Japan remains a technologically advanced nation with significant influence in AI, medical technology, and scientific research. While there are some economic challenges, such as demographic shifts and competition from emerging markets, Japan is still considered a leader in many high-tech industries. It is far from being in a position comparable to developing or third-world countries. ~~~ Plus they're selling a few American Treasury already. And the United States owes Japan 1.3 Trillion.
Big question - why did Japan's huge public debt financed infrastructure spending helped to boost up GDP in the long term ?
You want them to collapse?
And you have enough money to pay your house rent yet?
Nonsense TH-camr
The so called reduction in the CPI looks like price stability.
How is price stability a problem?
Increases in the CPI lead to higher interest rates. How are high interest rates helpful if the levels of are high?
I guess it is because although the Japanese economy is bad but Japanese oversea companies earn a lot of money from their local market. There is a another Japan outside Japan. But the problem is their market share is shrinking.
Japan hasn't collapsed. It is collapsing.
We pray Love Almighty will guide Japan and it's economy more and better than ever before !!
🎉🎉🎉🎉🎉🎉🎉🎉🎉
Tax the wealth of the super rich not the income of ordinary families
自国通貨発行権がある時点で崩壊することはありえない
それはどうかな。このままだと利払がどんどん増えるぞ。
@@JPTAIYO 円の信用はとても高いですよ
@@Lamiel_com それは君の感想。
破綻は無くても通貨価値が毀損される可能性は十分にあります。日本だけで経済が成り立っているのであれば別ですが、実際には天然資源や食料などあらゆるものを輸入しています。日本円をドルなどの他の通貨と交換することができなければ交易は成り立ちません。つまり通貨の価値を保つ必要があるのですが、無制限に通過を発行してしまえば通貨の価値は毀損されてしまいます。日本がどうかに関係なく、これが基本です。
恥ずかしいのでよく考えてからコメントして頂きたい
@@kk-ts2iw 無制限に発行するなんて書いてません。それくらい分かります
Debt issued in the fiat curreny of the issuing nation is worthless. Completely meaningless, can be repaid at anytime with the flip of a digital fiat switch. The issue is currency value, not debt.
No mention of The Plaza Accords? No explanation of issuing debt in a sovereign currency, making it COMPLETELY different from Greece.
@@thedamnedatheist exactly right
Too bad japan tourism is already crowded and even contributed up to 10-11% of their GDP. Otherwise they can even push it to 15-20% but need to make new tourist hotspot other than Tokyo,Kyoto, Osaka. 😅
No cause debt is just a imagination made up by powerful people.
Your reference to 1990 property bubble and stocks... Isn't this is what we are seeing in China now in 2024? Hence seems to see this trend coming on to China. Investers are moving out and foreign funds are not coming in....
China is bursting the bubble before it burst on its own thus could have a short term economic consequences. This began way back in 2022. The US is mirroring Japan as the stocks are overinflated and the real estate is at its peak
@@jkigtehuioropsdfjoaw seems USA China both are in similar fate and both are trying to sabotage each other.
@@jkigtehuioropsdfjoaweverywhere is like that
The first thing we need to consider like for instance a difference between Japan and Greece is Japan issues its own currency whereas Greece uses the euro.
7:13
Goro Majima's influence on Japan's economy
It won't collapse as long as there is economic growth
The tourism industry save Japan from an economic collapse. The weaker yen has galvanized tourist all over the world to spend money in the country.
Current US debt is 115%
How can it collapse when it is so much developed like that ?
Japan needs great yogi's and visionaries.
8:56 okay I might be jumping the gun on this but we talk about Japan and I see that they have Greece, with the headline"explaining Greece's debt crisis", and the big elephant in the room is the fact that Greece surrendered its currency issuing sovereignty to the central bank of the European Union through the euro.
Can someone explain why everybody is saying Japan had an economic stagnation, and no domestic investments since the 90s, but still if you go to japan you think you're in the future? (for the last 30 years!) High speed trains, clean streets, skyscrapers, innovations, robots...
Maybe the measuring of economic stagnation are wrong don't you think?
Deficits, debt to GDP, GDP. These numbers does not tell the true story. They're just easy to calculate so economists use them.
did you even see the video?
@@TexasReppin210 Yes, please answer the first question.
Insurance as Future Payment.
simple, look at their interest rate
Japan’s deficit as a percent of GDP is 6%. The U.S. is 7.4%. The U.S. is in much worse shape
Interesting and thanks. Did not know about the lending policies nor the lower rates. What sort of collateral do the banks in Japan require?
The Yakuza is holding up the economy with Pachinko and p0rn
I wish India finds extremely giant reserves of oil, gas or any other high value and high demand resource, so that India can get rich in a short span of time like the Gulf.
😂😂 it's not Saudi or china , opposition and environmentalists will not allow it ....
India has many things that gulf countries can dream about..
1, geographic location, three side by sea and one side by mountain..
2, located near maritime silk road ..
3, good climate and farmable lands...
Only thing it lack is good leadership..
India is having "diseconomies of scale" by its population.
It's going to require a similar level of defense to the U.S., friend
Really interesting
Look at the balance sheet. Then you'll know. Don't only look at the debt.
Let me short it out for you guys.
Cuz the USA has their back.
Although our bonds stay with BOJ, however the treasury sets our budget. So our expenses are still limited no matter what.
Because Japan's debt is domestic loan, owned by its high-income citizens. Japan had a powerful financial/industrial foundation before World War 1, while other Asian countries was bullied by Western imperialists.
You are aware that Japan was among the most aggressive of the 'bullies' in Asia, correct?
I was relieved that my Asian friends remembered the colonial rule
We were trying to create an EU-like economic group with our Asian friends
Because we were being forced to have unequal treaties from other continents
But we lost the WW2…
@@まる-b8b No, you were trying to be the biggest imperial power in Asia of all. You were doing the same things as the French, British, Germans, Portuguese, Dutch, etc. I hate to break it to you, but Koreans didn't and don't appreciate that period of their history. The Chinese definitely don't appreciate your efforts, either. Nor, for that matter, do Filipinos, Malaysians, Singaporeans, Indonesians or Vietnamese.
@@Bunnyroo7
It was Japan that made Korea independent from the Qing
Chineses say that Korea was a vassal state of the Qing
When the Japan military withdrew from Korea, it signed to the United States on the condition that South Korea and North Korea become independent together.
But they betrayed and Korea was divided
If japan want to invaded Korea, why is Korea divided now?
Japan and China participated in conferences with Myanmar, Thailand, and others, and even drafted a treaty to form an Asian economic group
but It was canceled by Western countries
@@まる-b8b Korea was a tributary state of the Qing, not a vassal state. China's form of diplomacy was very much unlike the European one. In Europe, there was never truly a dominant power, so European diplomacy was always shaped by negotiation and the formation of shifting alliances in order to maintain a balance. In East Asia, China was so dominant that it imposed the terms of diplomacy. The only country that could challenge that was Japan, which stepped in and out of that system as it saw fit. Korea had a complicated relationship with China. It was the closest, loyalest of allies. The Joseon, especially, were very close to China because their legitimacy rested on their relationship with the Ming. The fall of the Ming and rise of the Qing was deeply painful for Korea. Still, the Qing largely abided by the old terms. They did not interfere with Korea's internal affairs and Korea's ruling elite were happy enough to maintain that system.
As for Japan making Korea independent... By what, colonising it? I understand Japan's position. Japan wanted to maintain its independence at all costs, and Korea was Japan's strategic weak point -- much like Ireland was Britain's. Korea became independent not because of Japan, but because Japan lost the Second World War. If Japan hadn't entered that war, or if it had won, Korea would be a part of Japan to this day in the same way that Taiwan would be. If anything, Korea's painful division was a direct result of Japanese rule as Japan created the situation that led to Korean partition.
Until the 1930s, Japan wasn't necessarily any worse than anyone else. The French were hardly delightful in Indochina and British rule of India and Burma was uneven to say the best.Japan brought, on balance, many positive changes to Taiwan and even Japanese rule of Korea, while not gentle or kind, was not as brutal as Korean nationalists often make it out to be. It also came with the parasitic Yangban class being removed from power at long last, which allowed Korea to start modernising and developing. Your arguments are, however, spurious. They were the actions of a militant, revisionist country that wished to be the biggest power in the region, not some form of altruism.
Ultra low interest rates so there is not much interest on the debt. For now.
サムネイルがまるでアサシンクリードシャドウズくらいの解析度
Free market economies tend to rebound quicker than command economies (ie., China)
Anime is keeping it afloat
Japan as an economic superpower is now a thing of the past, and few young Japanese people believe Japan is an advanced nation. As a result, many Japanese people have pesimistic views about their future. In order to offset the shortage of workforce, some politicians insist that the Japanese labor market should be open to immigrants, but a lot of Japanese people are concerned about the inflow of newcomers from overseas.
Japan is still a superpower
Greece does not have it's own currency, it uses the Euro - that is why it collapsed, and why the eurozone will fall apart unless it federates. Government debt is irrelevant so long as it is in your own currency. The BoJ can buy as many bonds as they want and sit on them until they expire, and that is exactly what they are doing. The "bond vigilantes" have been repeatedly broken by the BoJ, because they know that they ultimately control any debt denominated in Yen, not "the market". The BoJ proves with their actions that neoclassical economics is a fraud.
....🇧🇩🤝🏻🇯🇵....
Video answer from : 9:00
Before that just yapping bla bla bla
Put simply- Japan can be explained by Modern Monetary Theory.
After the real estate bubble, the Japanese stoped investing kept money checking accounts
But this will cause inflation as well due to the degradation of the yen. Japan being an import driven economy for most of its consumer goods and raw materials
tldr;
1) the debt is 90% domestic
2) the interest rate is about 0%
금리를 높힐수가 없음 > 엔저 유지 > 서민들은 점점 어려워짐
you mean to say: 'Damn these bulgarian dam engineers are really op' which is true.
Eat and live like a pauper but save like a rich man.
Hasn't collapsed yet but sinking very very fast.
Rip Abe
You guys forgot one thing....
If UAE can buy a Ducktape. Japan can to.
Maybe opening up immigration will be the key to stimulate the economy.
Every country have debts..USA, India, Russia , China, Pakistan etd.
What we have to see is where the borrowed money is going. Is it invested in the ventures that have good prospective returns in the future. Is it being pilfered off by the corrupt officials. Now you know why Japan is not going to collapse but China and Pakistan surely will.
The problem of japan is strong us $ & high us interest rate
Let's face it. Reagan forced Japan to take 5 day week but it's neighbours are doing 6.
Because of High Taxes,Storng service center and Hugh amount of exports Keep japan still strong Evan IT have 250% debt otherwise it will collapse like Pakistan,Sri lanka,Zambia or on declining like Italy if japan Cant Finished with its 250% debt how USA will Collapse with its 115% debt😅? meanwhile USA have Strong service and export sector more than japan
It's also important to keep in mind that so long as a country has its own currency, it can still retain enough control to prevent complete collapse. Italy has a special challenge in that it does not have its own currency and cannot fully control its fiscal policies.
@@Bunnyroo7 italy also don't have strong exports like Japan,USA that's other thing
No anime no life, baby 😗
It's cause they don't have the world's reserve currency
but china is doing good... karma?
Ada yang tembak tak tentu hala ke? Mereka sendiri jawab.
The money principle must be based on using money as a medium of exchange not as a commodity. To deal the money as a commodity is to destroy its worth the easy way is to stop, forbid and abolish the direct exchange and swaps of currencies and to couple the exchange of currencies with the exchange of commodities. If a Japanese exporter/ importer wants to import from US /Britain/Russia/China then he should invite bids for his exports in in US dollars/ Lbs/ Rubbles/chinese to the extent of his imports from such countries . The conversion and reconversion process will be reduced the central banks will be freed from their 9:56 burden of issuing new rates of exchange of currencies their day to day business of long and short term measures of open market operations will also reduced The fake business of money exchange will come to an end . the inflation and devaluation will also be reduced and will be rationalised and the deficit of in the trade and payments will be reduced the balance of trade and and payments will be normalised and the imbalance ratio of exports and imports will also be flattened .
Chinas debt???
You need more economic knowledge
I find the AI narration unnerving. I would much prefer even a mediocre human narrator, rather computer generated speech.
Crap. Misinformation. Chinese Blog.
It is really too sad that the Japanese do not know how to save money. They have a long way to learn from South Korea.
MJGA.
IMF already owned all the Japanese assets and companies. No need to make the Japanese market crash like Venezuela or Greece.
아베노믹스의 대실패 입니다
Is it possible that Japan and other G7 countries will not collapse because they seized a lot of treasures from their colonized countries and have not been touched? 😅
Yawn.
Japanese people need to thank both Honda and Toyota. Otherwise, Japan would have collapsed due to their debt.
Sony and Nintendo
With the U.S. backing.
Where is japan 😂 ? I don't know
Why are you so stupid 😂
You should go back to school and learn geography from scratch.
@@MrEjidorie you from Japan 😂 ? Where is japan sir 🤣🤣🤣 ,,,, 🇨🇳
@@dendinurcahyo5680 Tell me where Kintamani is located. Do you know kintama means testicles in Japanese?
@@MrEjidorie Tokyo China and Hokkaido China 🤣🤣🤣 🇨🇳 you live in China? Or what ,,,, Shinkansen from China 🤣😂 not Japan
Because of GDP Growth 💹 and the Spending Boosted by Public Debt but got neutralized by the High Consumption of Goods and Services.