Japan’s been in a 15-yr recession, and China’s economy is systemically rotten with malinvestment. I hardly think these are worthy examples to follow.
Japan is doing just fine. Are you silly enough to think it has declined into a Spain or Portugal? China has turned into an economic powerhouse over the last 30 years via exports. We owe them a few trillion, not the other way around.
The only recent event that dented Japan has been that earthquake and tsunami