How much does the US owe China?

How much debt does Japan have?

Japan has the highest debt-to-GDP ratio among developed countries, estimated to be around ¥1,064 trillion ($9.9 trillion) as of 2020. This includes public debt held by both the national and local governments, corporate debt, and household debt. The Covid-19 pandemic has had a significant impact on Japan’s public finances due to increased spending on economic stimulus measures, but due to low interest rates there are no immediate concerns over sustainability. When compared with other countries such as Brazil (77%), India (73%), Indonesia (29%) and China (47%), Japan's public debt levels are still relatively low.

Question about Japan

Who owns most of Japan’s debt?

This article explores who owns Japan's public debt, which is estimated to be around ¥1,098 trillion (or $10.3 trillion). Domestic investors such as banks, insurance companies, pension funds and individuals own the majority of the debt, with the Bank of Japan being the largest holder with approximately ¥450 trillion ($4.3 trillion) worth of JGBs on its balance sheet. The Government Pension Investment Fund (GPIF), Japan Post Bank and life insurance companies also hold large amounts of debt. Foreign investors have also been playing an increasingly important role in owning Japanese government bonds due to their attractive yields compared to other developed countries like US Treasuries or German Bunds and now make up nearly 20% of ownership.