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Germany overtakes Japan as third-biggest economy

4 weeks ago
thedialog
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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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