Japan loses crown as world’s third-largest economy after it slips into recession

14 comments

1. Germany overtaking Japan!!

2. Because of the weak Yen… it was inevitable.

3. No one considers Japan an economic superpower anymore lol. Soon Japan will be overtaken by India as well 

4. Japanese economy grew 6% last cycle so this is indeed newsworthy.

   Meanwhile Nikkei is up 28% outperforming the US last year.

5. Technically in a recession(because of two straight quarters of contraction), but nowhere in real life. According to the same preliminary statistical results released by the Japanese Cabinet Office, Japan’s real GDP will grow by 1.9% YoY in 2023. The nominal GDP growth rate is 5.7%. For comparison, China’s nominal GDP is up 4.6% and Germany’s real GDP is down 0.3%. Japan is faring better than almost every other major economies. The extremely weak yen is making the numbers lower unfortunately. Need to wait at least a few more years to see the actual results.

6. “Is Germany’s economy bigger than yours, sensei?”

   “If the Yen were to depreciately continuously for months, it might be”

   “Would you lose?”

   “Nah, I’d win”

7. I visited my family back in Japan last month. Last time I went there in 2019.

   The yen went absolutely boink. For me (bringing USD) felt like I was going on vacation in Southeast Asia. Everything was crazy cheap. For them tho, it’s harsh. I took them to restaurants while I was there. Max we paid 10000¥ for 4 people. Where the hell do you eat with $65 in US/ EU for 4 people.

   They were saying that they’re feeling that the country is becoming very very poor. While local prices are somehow manageable, anything import is crazy expensive compared with the income.

   I hope they get better ❤️‍🩹

8. The writing has been on the wall for a while. I’m honestly more surprised it didn’t happen a few years sooner.

9. It feels a bit weird to give third place a crown

10. The fact that Japan’s GDP is lower than Germany’s is the more remarkable because Japan is 50% larger than Germany.

11. Oh no! Capitalism sucks! Anyway.

12. How is it a crown if you’re the third anything? There cannot be 3 kings.

13. The problem is that they will now double down on all the things that caused them to fall behind.

14. The stock market doesn’t show that. Whenever the us has a recession, the stock market tanks very drastically