They got overtaken by Germany a country with 50% lower population and the gap is widening. Their gdp per capita is below some Eastern European countries and way below other developed countries that used to have similar gdp per capita. Yen’s devaluation is getting faster so in the future I don’t think Japan can even be called a first world country anymore. What exactly caused this? I know Japan has been in recession since the early 90s but this last few years seem to be extra harsh on Japan
In: Economics
They are unfortunately quite xenophobic, at least the older generations are, and the government really does not want to open up immigration. Couple that with an increasingly large portion of their population who are senior citizens, and the actual working pool is drying up incredibly fast. It really doesn’t help that the Japanese work culture is practically the number one cause of depression in the country.
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