Developed markets in Asia, mainly Hong Kong and Singapore, are also an underweight due to expensive valuations and GDP downgrades.

FORBES: January All-Country Allocation Strategy

The government, too, is keen for the BoJ to keep doing its bit to stimulate growth, because the fiscal deficit is already projected to reach 10% of GDP next year and it has expensive campaign promises to keep.

ECONOMIST: Is Japan back in a deflationary trap?

Its health care system is the third most expensive in the world with over 11% of its GDP going toward health care--nearly three times more than the amount in 1960.

FORBES: Uncommon Sense