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
A first world country is not defined by numbers on paper. Despite all the sensationalist headlines the people of Japan enjoy a high standard of living, the country has great infrastructure, people don’t struggle to make ends meet with the money the average person is making and the country’s doing well. Growth has stagnated, which is not necessarily as bad in practice as it is on paper.
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