Concerns about government debt getting out of control are openly expressed around the globe. Moody's Investors Service said the rising debt is eroding the government's ability to meet its future obligations. The Japanese economy has grown at a modest rate this year. The question is whether that growth can continue without massive amounts of government spending. Japan is also dealing with another interesting phenomenon deflation .
Additional challenges remain.
Retirement funding pressures will hit a nation already reeking in debt. The Japanese economy is not that different from the U.S. economy. As in the U.S., consumer spending is key . Two-thirds of U.S. economic performance is consumer spending. It is similar in Japan.