中美日负债差距巨大：美国36万亿，日本9.1万亿，中国多少？

Group 1 - The core issue of the article revolves around the debt situations of the United States, Japan, and China, highlighting the differences in their debt management and economic implications [3][5][12] - The U.S. national debt has surpassed $36 trillion, with annual interest payments exceeding $1.1 trillion, which is more than the military budget [5][37] - American household debt has also reached $18.2 trillion, with a rising default rate at a 14-year high, indicating a broader economic strain [7][12] Group 2 - Japan's debt stands at approximately $9.1 trillion, which is significantly high compared to its GDP of around $4 trillion, leading to concerns about its fiscal sustainability [14][29] - The Japanese economy has seen over 10,000 business bankruptcies in 24 years, primarily affecting small businesses due to high costs and inflation [17][19] - Japan's central bank, once the largest holder of government debt, is now reducing its purchases, causing a spike in long-term bond yields to 3.7% [15][29] Group 3 - China's total debt is about $11.9 trillion, representing approximately 63.8% of its GDP, which is relatively manageable compared to the U.S. and Japan [21][29] - The Chinese government has implemented a debt restructuring plan to convert short-term, high-interest debt into long-term, low-interest debt, signaling a proactive approach to debt management [21][23] - China's debt is primarily used for infrastructure investments that generate cash flow, contrasting with the debt situations in the U.S. and Japan [23][29] Group 4 - The article emphasizes that the real difference in debt situations among the three countries lies not in the amount of debt but in their ability to manage and utilize it effectively [31][29] - The U.S. faces a situation of borrowing without addressing the principal, Japan struggles with market confidence, while China focuses on productive debt usage [31][29]