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The inheritance tax is very high in Japan, reported to be 75% of the market price for over 500 million yen until 1988, and it is still 70% of the market price for over 2 billion yen. [33] Yet the appraisal of land for tax purposes used to be about one-half of the market value and the debt was considered at face value during the bubble period.
While Japan's is a special case where the majority of public debt is held in the domestic market and by the Bank of Japan, the sheer size of the debt demands large service payments and is a worrying sign of the country's financial health. More than 25 years after the initial market crash, Japan was still feeling the effects of Lost Decades.
The crash of the Japanese asset price bubble from 1990 on has been very damaging to the Japanese economy. [22] The crash in 2005 affected Shanghai, China's largest city. [23] As of 2007, real estate bubbles had existed in the recent past or were widely believed to still exist in many parts of the world.
The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. “Importantly: Fundamentals are sound, the economy is doing fine ...
The stock market is not the economy—just look at what’s happening in Japan. Japan’s equity markets broke a record on Thursday, when the Nikkei 225 closed at 39,098.68.
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History of Japan • Timeline • Years Events in the year 1987 in Japan . 1987 was the second year of the Japanese asset price bubble : land values in Tokyo rose more than 85 percent between July 1986 and July 1987.
The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. “Importantly: Fundamentals are sound, the economy is doing fine ...