Japan Drops from Top Creditor Spot After 34 Years

Japan has lost its status as the world's top creditor for the first time in 34 years to Germany, despite its external assets reaching a record high, largely due to a weaker yen boosting the value of its foreign holdings. Japan's external assets increased significantly, but Germany's larger current account surplus kept it ahead. Japan's net external assets remain substantial, with the U.S. holding the largest foreign debt globally.