Japan has lots of assets like a massive sovereign wealth fund. When you subtract these assets from their debts, their debt to GDP ratio is 77%, which isn’t that high.
Japan takes money from its people in the form of taxes and then invests in assets like US treasury bonds. Because their currency depreciated over time, their debt has become worth less, while their foreign assets have become worth more.
This has benefited Japan a lot, but may backfire if the Yen goes up, foreign interest rates lower, or Japanese interest rates rise. If Japan has inflation, this could force them to raise interest rates or live with inflation.
Japan is becoming its own hub in a hub and spoke model of quasi-alliances in the Asia-Pacific. It’s cooperating with many countries and selling needed weapons. Japan is the most trusted major power among ASEAN countries. Beating the EU, US, China, and India.
The Chinese Communist Party forced Apple to lower prices on the Apple Store for Chinese residents. Trump talks big, but he lets the Chinese Communist Party push around American companies.
China is planning to be prepared to militarily take Taiwan, by blockade or invasion, by 2027. This plan includes the ability to hit American bases in the region, knockout American infrastructure with cyber, and to quickly invade Taiwan if invasion is the choice. China regularly operates in Taiwanese waters to lull Taiwan and others into not suspecting the real attack.
Japan has a right-wing populist movement that is anti-immigrant, wary of foreigners, and wants to return to Japan’s great past. It has connections with right wing movements in Germany and the US.