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.
I’m so sorry to hear that. I remember thinking that your education system sounded top notch, uh, quite a few years ago, when a German gentleman on a forum I was on was explaining why students were protesting against the introduction of a nominal fee for university studies, which had previously been free, right?
I may be mostly free but the problem is an outdated curriculum, lack of investment. Like almost every infrastructure here it got kaputtgespart (saving money until it’s broken).