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
Japan’s predicament is why many countries bailed out their financial institutions after 2008. Japans banking system crashed in 1990 and wasn’t bailed out. Their banks are still burdened with all the bad loans from the 80’s
[https://www.npr.org/2024/04/03/1197958583/japan-lost-decade](https://www.npr.org/2024/04/03/1197958583/japan-lost-decade)
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