Suika
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Same thing to China. Most of China's debt is essentially owned by China government. Majority of China's total debt, which is owed by China's sate-owned corporations, are belonging to the China's state-owned banks. If Japan is not in dangerous position, then why is China?
More importantly, those China state-owned corporations added up tremendous asset through borrowing money from government-owned banks. Those asset like factories, ports, highways, railways and airports etc will be continuously stimulating the economy. That's unlike the countries like Japan, UK US or EU. A lot of debt owed by government is consumed by welfare and health care.
I'm just speaking about Japan's debt situation and not extending a claim on China's.