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.
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.