Japan has what must be the largest public debt vs GDP in the world, at something like 260%. This in particular constrains them to near-0% interest rates, as the

Japan has what must be the largest public debt vs GDP in the world, at something like 260%. This in particular constrains them to near-0% interest rates, as they wouldn't be able to afford the interest payments. Since 2022, most of the developed world hiked rates like crazy, in response to rising energy prices, but Japan kept theirs basically at 0. So it's a bit of a double edged sword.