NIIP is essentially the difference between the **external** financial assets and liabilities of a country. This [wikipedia page](https://en.wikipedia.org/wiki/Net_international_investment_position) shows that Japan is first in terms of NIIP, with a value of +3.37 trillion USD as of 2021 (for reference, the US is dead last, with countries like France and the UK being close to the bottom, but Canada being close to the top).
I thought that Japan had the highest debt in the world? Can someone well versed in economics help me in explaining what it is about Japan?
https://www.reddit.com/r/japan/comments/1agvjw7/how_does_japan_have_the_highest_net_international/