Sunday, May 9, 2010

Japanese debts

According to The Washington post,Greek's financial crisis seemed to spread across Europe.

The figure left shows public debt ratio to GDP.
The country in the news is third from the bottom while Japan is the last on the list.
Then why would'nt riot break out in Japan?





source:Work and Wealth For All
The problem will be solved when you watch the next chart. (billion US$)

The graph above indicates Japan is the worst debtor nation in the world,however,when you turn your eyes to the next figure you'll find it's the other way round. There are hidden assets and liabilities behind
public ones.Especially,indivisual assets are more than twice as much as public ones.
Some says that's because Japan have once had higher rates of savings than any other countries.Yet,according to the recent statistics,they tend to fall gradually.
The Japanese are apt to place too much emphasis on cash of all sorts of property that is called '' tansuchyokin''(deposit passbook).
I think although this could be interpreted in many ways ,in a sense they may not believe in the government at all.
For democracy it's very important for us to build up a relationship of a mutual trust between the people and the Govornment of the day.

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