121
submitted 7 months ago by MicroWave@lemmy.world to c/news@lemmy.world

Fall in rank below Germany has been attributed to a weak yen and country’s ageing, shrinking population

Japan has been eclipsed by Germany as the world’s third-biggest economy and has slipped into recession, according to data released Thursday, as the country battles a weak yen and an ageing, shrinking population.

Japan’s economy, now the world’s fourth-biggest, grew 1.9% in 2023 in nominal terms – meaning it is not adjusted for inflation – but in dollar terms its gross domestic product (GDP) stood at $4.2tn compared with $4.5tn for Germany.

The shift, coming more than a decade after it ceded second place to China, has been attributed to the yen’s sharp falls against the dollar over the past two years. A weaker yen eats into profits on exports when earnings are repatriated. The Japanese currency dropped by almost a fifth against the US dollar in 2022 and 2023, including a 7% fall last year.

top 8 comments
sorted by: hot top controversial new old
[-] Reverendender@sh.itjust.works 37 points 7 months ago

They can probably make a comeback if they force everyone to work even more hours

[-] Starkstruck@lemmy.world 14 points 7 months ago

Guys, new idea, we just never stop working! We'll be on top in no time then!

[-] idunnololz@lemmy.world 2 points 7 months ago

Can't commit sudoku if you're always working!

[-] HurlingDurling@lemmy.world 1 points 7 months ago* (last edited 7 months ago)

You mean seppuku.

Sudoku is a game

[-] girlfreddy@lemmy.ca 15 points 7 months ago

Seems like we're headed for another recession, with the UK, Japan and likely China leading the pack.

Awesome. :(

[-] Kaliax@lemmy.world 6 points 7 months ago

The 20's are NOT roaring the way I had hoped... so far... fuck.

[-] moistclump@lemmy.world 4 points 7 months ago

This century’s coughing, sputtering 20s.

[-] HurlingDurling@lemmy.world 2 points 7 months ago

The US is in it as well. Those articles about it being a soft landing seem to be bullshit as they always come out right before a recession to try to keep the population spending

this post was submitted on 15 Feb 2024
121 points (94.8% liked)

News

23001 readers
3511 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS