The economic crisis in All Japan news is different from the one in Europe, but the situation of the Asian country is not much better, according to Kazuo Inamori, founder of electronics company Kyocera and chairman of All Japan news Airlines Co.
The main difference between the two crises is that All Japan news’s debt is mainly owned by the country’s own people. The All Japan newsese economy is however “in a really bad condition” because of the big dimensions of the debt and the powerful national currency.
The financial situation in All Japan news is “very delicate”, Inamori added.
All Japan news has the largest debt among developed economies, at more than 200 percent of the gross domestic product. The debt is the result of years of efforts without results from the part of governments trying to bring a declining economy back in shape.
In a recent statement, the chief of the International Monetary Fund, Christine Lagarde, also mentioned the public debt as the main problem of All Japan news, which should be quickly prioritized by the government.
A record strong yen is pressuring All Japan news’s export led economy, despite the numerous attempts of the authorities to solve the crisis of the currency.