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 is one of the weirdest economies in the world, the country itself has a lot of contradictions, generally the product of old institutions and cultural norms falling to adapt to the modern necessities and sensitivities, this has led to a nation that offers money just to have children, but continues to opress it’s working class (aka the ones they want to be having babies) with 14+ hours of work daily , a rigid work culture that doesn’t allow for things like
r/antiwork to even be a possibility in most people’s minds
And others, japanese economic and cultural norms are the ones responsible for their economy being in shambles
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