Last spring, when the effects of the American sub-prime loan disaster were being felt but the world economy was still relatively OK, there was an article in the Asahi Shimbun written by one of the paper's financial reporters who recalled several years earlier a visit from a friend living in the United States.
The friend worked for a real-estate company and he told the writer just before he returned to America that he and his colleagues appreciated the Japanese people, because they were investing in U.S. mortgages as securities, and therefore helping poorer Americans borrow money at low rates so that they could buy better houses.
The writer mentioned this episode to point out the irony of the situation, since it was the failure of those securitized mortgages that led to the burst of the U.S. real-estate bubble and the current worldwide recession. However, there's a deeper irony to the story: The Japanese people, whose housing is, for the most part, inferior in quality to that of American housing, were making it possible for Americans to purchase nice homes. But who is helping the Japanese buy nice homes?