True Financial Figures
During the so-called lost decade in 1990's in Japan, the Clinton Administration did really try to suppress the Japanese financial power.
As they, including The New York Times and The Financial Times, so much made an assertion on Japan's failure in getting through the prolonged recession after the burst of the bubble, some Americans and Europeans thought that Tokyo was full of the homeless. But, they found that even Japanese homeless people were better off than those in Europe and America.
And then what the world has seen is the subprime-loan-triggered American financial crisis, including the bankruptcy of GM and Lehman Brothers, as well as the euro crisis, including the bankruptcy of Iceland and Greece.
It is time to consider what will become of China if put into such antagonism or what the true figures on Japan are.
SECTION I: Financial State of Japan
A Japanese economist has claimed that the Japanese Government should lower the consumption tax rate to 0% (presently 5%), while new Prime Minister of Japan Mr. Naoto Kan announced yesterday or so that his Cabinet would take the financial deficit issue seriously, with an eye to implementing a policy to raise the tax rate to 10%.
(http://www.qualitysaitama.com/?p=3491)
SECTION II: High Net Worth Individuals
Merrill Lynch reported something about the global state of wealthy people so seriously as it is a Wall Street business.
--------------------
The U.S., Japan and Germany together accounted for 54.0% of the world’s HNWI population in 2008, up very slightly from 53.3% in 2007 (see Figure 4), despite the substantial loss of wealth by HNWIs in those countries, particularly the United States.
For example:
China’s HNWI population surpassed that of the U.K. to become the fourth largest in the world in 2008 (364k HNWIs), after having exceeded France in 2007.
(Click to enlarge)http://www.ml.com/media/113831.pdf
--------------------
SECTION III: Net External Assets
IMF respects Japan so much, but in a complicated manner.
--------------------
Net external assets hit 266 trillion yen
THE ASAHI SHIMBUN
2010/05/26
Japan's net external assets stood at 266.223 trillion yen (about $2.95 trillion) at the end of 2009, the highest figure since comparable statistics were first collated in 1996, the Finance Ministry said Tuesday.
It attributed the 18.1-percent rise over the year-earlier figure to the yen's declining value and the global economic recovery.
According to the International Monetary Fund and other sources, Japan has chalked up the world's highest net external assets for 19 years in a row since 1991. China is in second place with 167.733 trillion yen in net external assets, and Germany is third with 118.860 trillion yen.
http://www.asahi.com/english/TKY201005250400.html
--------------------
*************
Oh, Japan 0-1 The Netherlands!!
Japan's manager Okada said, "Regrettable!"
Japan is to take on Denmark next week in South Africa.
The 2010 World Cup matches are going on whether your are vexed or elated.
(http://www5a.biglobe.ne.jp/~eis/j/mmf/ts.mid
Source: http://www5a.biglobe.ne.jp/~eis/j/html/hp.html)
Dan 6:19 Then the king arose very early in the morning, and went in haste unto the den of lions.
Dan 6:20 And when he came to the den, he cried with a lamentable voice unto Daniel: and the king spake and said to Daniel, O Daniel, servant of the living God, is thy God, whom thou servest continually, able to deliver thee from the lions?
Dan 6:21 Then said Daniel unto the king, O king, live for ever.
Dan 6:22 My God hath sent his angel, and hath shut the lions' mouths, that they have not hurt me: forasmuch as before him innocency was found in me; and also before thee, O king, have I done no hurt.