Japan slips into recession, becoming the 4th-largest economy, behind the US, China and now Germany.
Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany.
The government reported the economy shrank at an annual rate of 0.4% in October to December, according to Cabinet Office data on real GDP, though it grew 1.9% for all of 2023.
It contracted 2.9% in July-September. Two straight quarters of contraction are considered an indicator an economy is in a technical recession.
Japan’s economy was the second largest until 2010, when it was overtaken by China’s. Japan’s nominal GDP totaled $4.2 trillion last year, while Germany’s was $4.4 trillion, or $4.5 trillion, depending on the currency conversion.
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Germany. One of the oldest populations in the world. Results for the most recent PISA study were terrible. There’s a huge shift to the political right, where even the so called social democrats call for more restrictive immigration policy, while the scientific consensus is that we urgently need mass immigration now to build a workforce that can keep the economy afloat.
Ah yes lets ignore all the societal issues we have today in Europe caused by mass immigration of the 60’s-80’s and lets do it again. I’m not anti immigration but the only immigrants I want to see coming are the highly educated ones. Introduce masses of low educated and uneducated migrants into a country only creates entire communities that are terribly integrated into society, like we see today in many European countries and all the problems that creates.