So many people in this days warn so much and are alarmist on the economic condition of Japan. People are worried on the high Japan's GDP-to-debt ratio which stands at 229.2% of Japan's GDP. This is exacerbated by the Tohoku earthquake and tsunami which the government is to make reconstructions increasing the budget shortfall. Also, a lot of people are worried on Japan's decreasing birthrate that the decrease of population might have severe consequences on Japan's fiscal and monetary economy.

On the people here, what is your reaction and comment on the fact that Japan has the highest GDP-to-debt ratio in the whole world at 229.2%? Is this debt different from other countries in particular such as Greece, US or UK? What is the nature of this debt?

I know the MMT stuff that government deficit = private sector surplus and savings and that the government does not "to pay all the debt" as in old-minded economic concepts, but the debt of Japan at 229.2% seems a special and unique situation compared to other countries.