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
> I don’t think Japan can even be called a first world country anymore
Thats one way of saying you’ve never been to Japan.
They are roughly the 30th highest GDP per capita in the world despite having a ton of “unproductive” retirees weighing them down. But they are 100% first world. I’d argue more so than GDP heavyweight America thanks to its robust mass transit systems and universal healthcare.
Comparing Germany to Japan is a bit unfair as Germany is one of the most productive countries in the world. They also benefit greatly from the European Union which grants them a huge “domestic” market and makes it easy for Germany to brain drain some of the best talent from other EU countries. Also, Germany only has 32% less population than Japan, not 50%.
I highly recommend you visit Japan. It is one of my favorite countries.
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