Japan's Debt-Ridden Economy: Crisis in Slow Motion

I found this article to be very interesting because it focuses on Japan's slow moving deflationary trap. When most people think of Japan they think of money, electronics, business, power, etc... but very few think about the actual status of the economy. Ironically enough, if it's neighboring country, China, were to allow the yuan to float in the exchange rate system, this would benefit the yen tremendously. However, thanks to the now privatized Japanese Postal Savings System, most Japanese men and women have been ingrained with the idea that most of their income should be saved (which is probably a good thing, given the sheer cost of education, housing, and transportation). However, this saving has far exceeded any kind of balanced level, hence the reason we see Japan in a deflationary cycle that is very slowly circling the economic drain. The country is operating at a level that is well below it's capability add to this the huge amounts of debt that the country has both domestically and internationally. The article says that Japan may be next for a Greece-like crisis. I don't know if this will actually be the case, but I do think that if something isn't done soon Japan will suffer in the coming decades.