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The Japanese gov't employs a huge number of older people to do small tasks and keep things running well. The down-side is that Japan has a staggering two-hundr
by big_chungus 7y ago
The Japanese gov't employs a huge number of older people to do small tasks and keep things running well. The down-side is that Japan has a staggering two-hundred-thirty-six percent debt-to-gdp ratio, which it will have massive trouble paying off with its shrinking population.
- seanmcdirmid 7y agoMuch of that debt is the result of infrastructure projects and a large savings demand by the population. Sure they could have done much better in investing that debt (to help with paying it off later), but it would have still been there even if they did (since the demand was there unless they pushed it out into the stock market or American treasuries).