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
If you look at their GDP PPP per capita, it has been increasing, but the devaluation of the yen means that their nominal gdp is decreasing. On a more general note, after the bubble burst, their central bank and governments made a bunch of bad decisions and never managed to revive their economy which has led to stagnation for 2 decades.
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