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30-09-2023, 01:58 PM
Using the current formula, based on economic power, Japan will most likely be overtaken by China and Germany.
On the back of Japan's tepid economic growth and the yen's depreciation against the U.S. dollar and other major currencies, the officials said that the country is set to be ranked fourth.
According to the documents obtained by Kyodo News, if the current formula is used, China's ratio will jump to 14.4 percent, while that of the United States will slide to 14.8 percent.
Under a different calculation method based on each country's trade activity, the ranking order would be the United States, China, Germany, the United Kingdom and Japan.
China and other fast-growing countries, meanwhile, have demanded that the ratio reflect the sizes of their economies, and the negotiations have not yet settled down, according to the officials.
https://japantoday.com/category/politics...der-status
On the back of Japan's tepid economic growth and the yen's depreciation against the U.S. dollar and other major currencies, the officials said that the country is set to be ranked fourth.
According to the documents obtained by Kyodo News, if the current formula is used, China's ratio will jump to 14.4 percent, while that of the United States will slide to 14.8 percent.
Under a different calculation method based on each country's trade activity, the ranking order would be the United States, China, Germany, the United Kingdom and Japan.
China and other fast-growing countries, meanwhile, have demanded that the ratio reflect the sizes of their economies, and the negotiations have not yet settled down, according to the officials.
https://japantoday.com/category/politics...der-status
