Japan's Debt A Short Briefing Blog
By time, we've seen several countries going default due to very high debts which ranges from Billions to Trillions of dollars. Like Sri Lanka, the most recent country to declare itself a default nation because they admitted that they're now unable to pay their debts of more than 50 billion USD. But we've seen these huge unbelievable figures of debts in some developed nations also like USA and China but their % is relatively low as compared to their GDPs. Meanwhile Japan holds 8,466.7 billion USD which is about 226% of Japanese GDP, in debt as per the Google last updated in Oct 2022. this huge debt has several reasons of its existence like; * The country first faced economical setback in 1990 which was followed by constant GDP downfall that lasted for a decade. * Another economic collapse in 2008, and Tohoko/Fukushima disasters greatly impacted Japan's GDP which ultimately led to higher debts. * Then Covid trauma equally affected Japanese financial situa...