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15-02-2024, 03:05 PM
Once forecast to become the world’s biggest economy, Japan slipped below Germany last year to fourth place, official data showed Thursday, although India is projected to leapfrog both later this decade.
Europe’s biggest economy has also been hampered by the European Central Bank raising interest rates in the eurozone as well as uncertainty over its budget and chronic shortages of skilled labour.
When in 2010 Japan was overtaken as number two by Asian rival China — whose economy is now around four times larger — it prompted major soul-searching.
More pain is to come, as India’s economy, with a burgeoning young population, is projected to overtake Japan in 2026 — then Germany in 2027 — according to the International Monetary Fund.
https://www.malaymail.com/news/money/202...omy/118101
Europe’s biggest economy has also been hampered by the European Central Bank raising interest rates in the eurozone as well as uncertainty over its budget and chronic shortages of skilled labour.
When in 2010 Japan was overtaken as number two by Asian rival China — whose economy is now around four times larger — it prompted major soul-searching.
More pain is to come, as India’s economy, with a burgeoning young population, is projected to overtake Japan in 2026 — then Germany in 2027 — according to the International Monetary Fund.
https://www.malaymail.com/news/money/202...omy/118101
