Writing Japan off is another favorite pastime, I notice. What most impresses me about Japan is their ability to weather the doldrums of their current economy, and still have a higher quality of life than Americans do. How well do you think America will fare under similar economic conditions? (You can probably guess what I think.)
I think this entire exercise is conversational bullshit because there is no metric for 'winning'. Quality of life is relative. People prefer different things, that's why those who are able, relocate to somewhere that suits their preferences. Japan benefits greatly from being an island, not having to worry about their national security for decades and a tight immigration policy.