Picture Source : worldatlas.com
Germany overtakes Japan as third-biggest economy
Economics
Germany
2 years ago
774
Key Notes
- Japan slipped to fourth place below Germany in terms of GDP. The fall in the yen and Germany’s contracting economy contributed to the change.
- Japan’s population decline, low birth rates, and worker shortages affect its economy. Falling behind Germany is a blow to Japan’s self-esteem.
- The International Monetary Fund projects India to overtake both Japan and Germany in the future.
