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Germany overtakes Japan as third-biggest economy
Economics
Germany
1 year ago
thedialog
407
Picture Source : worldatlas.com
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.
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