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Posted on 05/10/2024 7:38:15 PM PDT by Cronos
Once an economic powerhouse that was the envy of much of the world, there is deep concern in Tokyo that the economies of China and Germany have already surpassed Japan's — and that India's will do so next year.
The announcement that in 2025 India will overtake Japan in nominal gross domestic product in dollar terms has shocked Tokyo, which had until 2010 been the undisputed second-largest economy in the world but is now on the brink of slipping to fifth place.
In estimates released in late April, the International Monetary Fund (IMF) indicated that India's nominal GDP will reach $4.34 trillion (€4.03 trillion) in 2025, surpassing Japan's $4.31 trillion. The timing of India's surge into fourth place in the world comes one year earlier than the IMF's last estimate, due in large part to the weakness of the Japanese yen.
Japan's decline in the global economic standings follows the government's confirmation that the nation slipped behind Germany in 2023. The shock at India likely surpassing Japan next year is comparable to 2010, when a buoyant China replaced Japan as the world's second-largest economy.
...The whole idea of Abenomics was to drive growth at businesses, but structural reforms were also needed to push productivity, but that is very hard to do in a country that is aging and where there is resistance to change, to digitalization and people who have been in positions for a long time simply prefer the old ways
... Japan could not match India's investment in infrastructure and a rapidly growing middle class, Fink added, while Germany had surpassed Japan primarily on the precipitous drop of the yen against the euro over the last 12 years — a decline of 40% that put the real exchange rate effectively at a 50-year low.
(Excerpt) Read more at dw.com ...
Everyone should be concerned about India and China. I can’t think of two countries that are greater risk to the rest of the world, whether Japan or the United States.
India has absolutely nothing that Japan should be envious of. The latter is an overcrowded and mismanaged sewer of humanity that needs to clean up their act, stop crapping and dumping garbage into their ‘holy’ rivers, and practice a little contraception for cryin out loud.
India has more than 10 times Japan’s population.
It should have a ten times greater economy.
India is a modern, advanced country of 300 million people. Unfortunately, another 1.1 billion people are also living there.
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ROFL. These people routinely rape underage women, target foreigners, and prepare their food in cow feces and unsensitized body parts.
Japan - bump for later....
I’m guessing the ‘angst’ is mere ‘journalist’ projection. What matters is per capita assessments and quality of life.
India is nasty...
Learn from Argentina, Japan.
If Argentina stays the course, it will become the richest country in South America and probably one of the top ten economies of the world.
Japan has had an abysmally low birthrate for the longest time. Its not surprising at all.
>> India is a modern, advanced country of 300 million people. Unfortunately, another 1.1 billion people are also living there.
ROFL. Well put.
1.36 children born/woman (2022) in Argentina.
You said the truth but most people don’t like to hear it.
If they turn things around economically, I think that number would go up. Especially if it is made clear that the government has to cut back on social support.
If Indian economic aspects are so great, why are so many Indians migrating to America?
Israel is the only “developed” nation with a high birth rate.
To provide some perspective that the article leaves out.
Largest 2023 economies by gdp:
1. US. $27 trillion
2. China. $18 trillion
3. Germany $4.4 trillion
4. Japan $4.2 trillion
5. India $3.8 trillion
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