*The Portuguese, collectively, owed more debt to Japanese than to any other Asian lender. Japanese investors and lenders to Portuguese ventures made considerable profits, often charging interest rates as high as 25-30% on their loans, and were able to do so due to the balance of high risk (weather, pirates) and potential for great profits for the Portuguese ventures themselves. Even Macao's city government itself owed considerable sums to Japanese sources. - Wray, 85. | *The Portuguese, collectively, owed more debt to Japanese than to any other Asian lender. Japanese investors and lenders to Portuguese ventures made considerable profits, often charging interest rates as high as 25-30% on their loans, and were able to do so due to the balance of high risk (weather, pirates) and potential for great profits for the Portuguese ventures themselves. Even Macao's city government itself owed considerable sums to Japanese sources. - Wray, 85. |