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Japan Cedes Top Global Creditor Position to Germany Amid Currency Shifts
Japan Cedes Top Global Creditor Position to Germany Amid Currency Shifts
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Japan’s net external assets climbed 13% to a record ¥533.1 trillion ($3.73 trillion) in 2024, driven by aggressive foreign investments from its corporations. Yet the yen’s depreciation and euro strength propelled Germany’s surplus to ¥569.7 trillion ($3.99 trillion), securing its new status as the world’s largest creditor nation.
Germany’s export engine—powered by luxury machinery and automotive shipments—fueled a $282.99 billion current account surplus. China trails in third with $3.62 trillion in net external assets, as global capital flows increasingly favor economies with structural trade advantages.
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