• SHARE

Frequent comparisons are made these days between the plight of the British economy and the state of the Japanese economy. But in reality the two situations are very different.

Japan’s colossal public debt is financed by internal savings. So in effect Japan owes its debts to itself. By contrast, at least half the United Kingdom’s debt is held by world investors who could take their money away at any moment, or demand much larger returns for lending it.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW