Japan is one of the world’s largest net creditors. Its institutional investors’ overseas holdings pushed the country’s net external assets, which include holdings of foreign securities, to a record last year, according to official data, creeping past Y533tn ($3.4tn). Life insurers are among the largest investors and, for decades, their savings have helped steady global markets. What happens when that flow reverses?
日本是manbetx app苹果 最大的净债权国之一。官方数据显示，日本机构投资者的海外持仓推动外币证券等对外净资产去年创下纪录，略超过533万亿日元（合3.4万亿美元）。寿险公司是其中最大的投资者之一，数十年来，他们的储蓄一直在稳定manbetx app苹果 金融市场。那么，当这股资金流逆转会发生什么？
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