Tuesday, February 20, 2024

From economic ‘miracle’ to cautionary tale: Japan’s development and rece...

  

Feb 20, 2024 #scmp #Asia #Japan

Subscribe to our YouTube channel for free here: https://sc.mp/subscribe-youtube Read more on this: https://sc.mp/wsw38 Japan has slipped from being the world's third-largest economy to being officially in recession.
  • The country’s GDP fell to US$4.2 trillion in 2023, placing it behind Germany, China and the US.
  • Japan's economy has been struggling since the burst of its bubble economy in the 1990s, characterized by low growth and deflation.
  • To recover, experts say Japan needs significant structural reforms, increased innovation and productivity and efforts to empower women.
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On Thursday, Japan and the UK both reported their second consecutive negative quarters of gross domestic product, fitting the widely agreed-upon definition of a recession.4 days ago
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