An Ateneo Graduate School of Business Advantage
The debt bomb is about to explode globally. First it was US and then Europe: Greece and Italy.
However recent news says that Japan, whom we thought could be a white knight sits on a mountain (Mt Fuji?) of debt. That is why sales tax of up to 20% is being mulled in Japan to cover its debt problem.
Its current debt stands at a staggering $l3.3 trillion (a little shy of US $l5 trillion) which translates into $l00,000 for every Japanese (that is P4.4 million in the Philippines) That is a lot of debt or 2ll% of its GDP much much higher than US or Greece. And that is worrisome too.
This is big problem to Japan which has an ageing population and its manufacturing prowess overseas. They need to tax these multinationals more?
We did not realize that many Filipinas who have Japanese husband and who have luxurious lifestyles are being financed by these debt that has ballooned.
japan-pm-struggles-conquer-countrys-debt-mountain-.
What is the impact of this information on the Philippine economy?
Will this affect Japanese companies in the Phil?
How will later on affect the Japayukis
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