Posted 2/20/2024, 9:55:00 PM
Japan Falls Behind Germany to Become World's 4th Largest Economy Due to Slow Growth
- Japan's economy shrank for two straight quarters, falling behind Germany to become the world's fourth-largest economy.
- Japan's economy has grown slowly for 30 years due to an aging, shrinking population and less immigration than countries like Germany.
- Germany's economy has surged in recent decades through strong exports, immigration, and mid-sized businesses.
- A weaker yen and companies investing abroad instead of in Japan contributed to its slip in GDP ranking.
- Stagnant wages have left Japanese consumers with less money to spend to spur economic growth.
