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Germany now world's third largest economy as Japan loses its spot (www.euronews.com)

submitted 7 months ago by [email protected] to c/[email protected]

39 comments fedilink hide all child comments

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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[–] [email protected] 3 points 7 months ago (1 children)

That's actually a really tough call between US and JP. I lived out of my car in the US for a while. I've not been homeless in Japan, but they do tend to have it rather rough from what I've seen.

[–] [email protected] 4 points 7 months ago* (last edited 7 months ago) (2 children)

In Japan you should not be seen if you’re homeless

There’s a reason their streets look so clean and part of that is forcing the homeless away

If you look up homelessness in Japan then you should be able to find “the unclean” parts of the cities

[–] [email protected] 2 points 7 months ago

Damn, I didn't know that. That's fucked up for sure.

[–] [email protected] 1 points 7 months ago

There are some that sleep basically in cardboard boxes not far from the Scientology building in Shinjuku. I walked there many times and they never gave me any trouble. Sometimes they would all be gone which is maybe to do with law enforcement or something, but I don't know.

There are whole camps, apparently, in some areas on the edges of cities. I forget which youtuber did something on that. Maybe Life Where I'm From (or whatever it's called).