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Tristan
Japan

Public Debt: 170% of GDP (2005 est.) For comparison, USA- 65% of GDP
Oil - production: 120,700 bbl/day (2003 est.)
Oil - consumption: 5.578 million bbl/day (2003 est.)
65 years and over: 20% of population (2006 est.)
For comparison, Canada- 13.3%; USA - 12.5%

http://www.cia.gov/cia/publications/factbook/geos/ja.html


Taxes are increasing:
The government has decided to dedicate revenue from the consumption tax toward financing rising pension, medical and other social security costs, according to sources.
The plan is aimed at gaining public support for raising the 5 percent tax, they said. A hike is considered necessary to reconstruct the government's finances.
Experts say the consumption tax should be raised to more than 10 percent to meet those costs.

http://search.japantimes.co.jp/cgi-bin/nn20060515a1.html

Many economists say that the economy is coming out of a slump but I fear that it will be short-lived as oil prices rise and the population ages. The Japanese youth of today are in for some tough times ahead.
MasterTango
Ur future will be brighter than u expect.
LX1
japan is doomed, such a small country, so prone to natural disasters, especially now with global warming.
FantasyClover
not just the Japanese youth, we're all screwed up.
outofin
You'll be fine. The generations of post-war had worked so hard. Japanese could enjoy their lives now. Even if others catch up, so what? Japan is still a rich country.
Jhangora
Japan is a rich country no doubt but the future is full of challenges.
kunomchu
the nikkei has been $hit lately no?
Tristan
Japan is a wealthy nation on the surface but its staggering debt (170% of GDP) is unrivalled by any other OECD country. Every year its debt is rising due to annual budget deficits. Currently, its government is debating on the percentage increase of the consumption tax for the new year. The government is in need of additional tax revenue to balance the budget and to finance its expensive social programs, especially the pension program. Recently, Japan surpassed Italy as the country with the highest percentage of its population over 65. This will further burden the taxpayers of Japan (who are decreasing as Japan currently has the lowest percentage of its population under 15 in its history).
Bloomberg News
The country will enter into an economic downturn in the absence of any reforms to address the growing stress on its social programs.
Kasugano
Yea.. all this is making me feel really depressed. I'm actually quite worried about my family back there. I hope Japan does something soon. I'm studying in America to help Japan become a better place but, Now I feel like I'm kinda too late.
rahul1000
What would you study to help out Japan and your family back home?
No doubt Japan right now is facing some serious challenges and I'm not sure if they can overcome them right now, they may be in a lot of trouble eventually.
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