Japan, External debt $2.2 trillion, foreign reserves $1.1 trillion from Wiki, GDP $5.1 trillion.
They owe 20% of GDP to foreigners.
USA external debt 40% of 14 trillion, or 5.6 trillion, or 37% of GDP owed to foreigners.
Japan's problem is mainly internal, borrowing from internal savings on unused infrastructure, the external debt is small and well handled by net exports. The FT points out they are fixing the probel before it gets out of hand,
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