Just a small detail: Japan's debt service ratio is 23% of total government expenditure (see http://www.stat.go.jp/english/data/handbook/c04cont.htm Figure 4.1) NOT 23% of GDP.... more like 4.8% of GDP. Makes a bit of a difference....
Just a small detail: Japan's debt service ratio is 23% of total government expenditure (see http://www.stat.go.jp/english/data/handbook/c04cont.htm Figure 4.1) NOT 23% of GDP.... more like 4.8% of GDP. Makes a bit of a difference....