Japan's political landscape is shifting gears under Prime Minister Sanae Takaichi, whose Liberal Democratic Party recently secured a two-thirds majority in the House of Representatives. But economists are sounding alarms 🚨 about her ambitious fiscal strategy that could send shockwaves through Asia's economy.
Professor John Gong of the University of International Business and Economics warns that plans to boost defense spending might turn Japan's national debt – already at 263% of GDP – into a full-blown crisis. 📉 'This isn't just about balance sheets,' he told CGTN. 'Increased military budgets could heighten tensions in Northeast Asia, particularly near the Korean Peninsula.'
Here's why it matters to you:
🇯🇵 Japan's weakening yen makes borrowing pricier
💼 Regional markets face potential instability
🛡️ Neighboring countries monitoring defense moves
With Japan being the world's third-largest economy, these decisions could impact everything from your TikTok feed's tech trends to global supply chains. 📱🌐 Stay tuned as we track this developing story!
