A World Economy in Collapse, and Japan is No Exception

It's a preposterous story. Subprime loans, easy credit for those unable to repay, were rampant. These were then securitized and sold worldwide with dubious ratings, deceiving many.

In essence, it was akin to predatory lending for housing. The underlying assumption was that land and housing prices would rise indefinitely.
Nothing can rise infinitely. Easy credit soured, and financial institutions (banks, securities firms, etc.) collapsed one after another. This was the global financial crisis, originating in the United States.

Due to the Japanese national character, which prioritizes savings over investment, people were not easily swayed by attractive offers from the U.S., resulting in relatively less damage.
However, the global financial crisis has brought about a recession. The impact on the Japanese economy, heavily reliant on external demand and exports, is significant, and Japan finds itself in a recession perhaps once a century.

What are Japan's unique "virtues" that set it apart from other nations?

Regardless, I would like to present a figure here. As of the final figures for 2007, Japanese household financial assets stood at 1,544.8347 trillion yen. It's useful to remember this as approximately 1,500 trillion yen.

This represents an increase of 115 trillion yen compared to 1,430 trillion yen in 2004, three years prior. Japan is the only developed nation where financial assets have continued to grow during this severe recession. This means the country can finance consumption and housing construction through its own means, without foreign borrowing.
Such a nation is unique to Japan and represents its inherent strength.

Furthermore, Japan maintains a trade surplus of approximately 11 trillion yen annually. Let's look at the figures for 2007.
Exports were around 84 trillion yen, while imports were just over 73 trillion yen. The trade surplus, subtracting imports from exports, amounts to roughly 11 trillion yen. Japan has consistently been a trade surplus nation. This should be viewed as a significant positive factor. For context, the countries with the largest trade volume (total exports and imports) with Japan are China, followed by the United States, South Korea, Taiwan, Australia, and Thailand.

It is noteworthy that in 2007, China surpassed the United States to become Japan's largest trading partner.

Japan: A Nation with Few Human Rights and Religious Issues, and High Public Safety

It is fair to say that Japan has virtually no human rights or religious conflicts. Christians and Buddhists do not shed blood, nor do members of the same religion engage in violent disputes. Such a nation is rare in the world and can be considered an absolute strength.

The high level of education, with a zero illiteracy rate, meaning 100% literacy, is also something the world can admire.
Education is said to be a 'hundred-year plan.' Even during the impoverished Meiji and Taisho eras, wherever there was a town or village, elementary schools and educational facilities were established. Our predecessors dedicated themselves to ensuring not a single person was unable to read, write, or calculate. We must never forget that this commitment has led to today's prosperity. Please understand that this is fundamentally different from the U.S., where money is everything.