T/F, All japanese have $100,000 in bank?
japanese are the most overrated people.
- conley39Lv 72 months agoFavourite answer
False. They don't all have that much.
- MidasLv 42 months ago
Japanese are known to squirrel away as much as they can because their retirement pension system is so meager. And they don't want to be a burden on their kids.
- Anonymous2 months ago
It seems to be the amount of average savings per household.
By the way, some of these huge funds would be invested by the deposit destination to purchase government bonds, which would allow the government to raise funds in its own local currency. That is also one of the reasons why Japan is able to withstand its massive government budget deficit, and enables relatively low tax rate—Japan's consumption tax rate is 8-10%—and high welfare such as health-insurance system that covers all of its citizens. For many years global financial capitals have attempted to cause it to redirect those savings to stocks.
In short, these funds will be used for government spending rather than private investment. This may not create dynamic economic activity, but they have made a such choice as a result, which appears to be somewhat socialist.
- hihi!Lv 72 months ago
...and if not intelligent, they ACT intelligently.
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- 2 months ago
may be because japanese are very inteligent