Japan’s Fiscal Time Bomb Just Went Off Japan’s economic machinery, long praised for its stability, just dropped a wrench in the gears. What was once seen as a model of fiscal prudence now finds itself teetering under an enormous debt burden, with Japan’s government debt exceeding 230% of GDP — the highest among advanced economies. This staggering debt load leaves little room for error, and as markets react to the country’s latest policy moves, the Japan fiscal crisis carry implications are sending shockwaves far beyond Tokyo’s financial district. The Japanese government, under Prime Minister Sanae Takaichi, triggered a full-blown market sell-off by calling a snap election and proposing a temporary cut in food taxes. That might sound harmless — even…
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