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.
It still amazes me that a country that small with that little natural resource as Germany can have such a strong and big economy!
Our resource used to be people, but we’re in the process of completely fucking that up. Education going downhill quickly, rapidly aging population paired with a massive push against immigration, the most important jobs having some of the worst pay and working conditions…
We’re in a race to the bottom. Japan mas have overtaken us, but we’re folfowing closely behind.
One thing‘s for certain: Germans remain world champions at complaining. Even the brits got nothing on us.
Are you complaining about that?
And yet they complain that our economy is in shambles. It’s never enough for these capitalist ghouls.
