Germany Surpasses Japan As Worlds 3rd Largest Economy

[Economy 52,861]

https://www.france24.com/en/live-news/20240215-germany-overtakes-japan-as-third-biggest-economy

 

Germany is now the worlds 3rd largest economy at $4.4T USD while Japan is just below $4.3T despite Japans larger population

 

A falling yen caused some of the switch while a shrinking economy and recession also added to it

 

Japan soon may fall to #5 as India is expected to surpass it in the near future

[River 127,556]

It's all because the switch 2 release date is now 2025

[Hyoha 1,633]

Japan will keep falling off until they figure out how to make its population younger

[pachinko 10,755]

Why is Japan failing? 

[dit 46,738]

31 minutes ago, pachinko said:

Why is Japan failing? 

recession, inflation and horrible demographics. They are I think like the top 3 most aging population. They don't have a young population like at all...they will have to start accepting mass immigration from South East Asian nations like Phillipines, Indonesia and Thailand if they want to save themselves...but Japan is a insular monocultural nation with almost no history of immigration so it will be a tough and new concept for them to embrace. Currently they are trying to automize their nation to stave some of the impacts of their rapidly aging population but that can only last so long...they will have to cave in and allow south east asian immigration at long last. 

[Economy 52,861]

2 minutes ago, dit said:

recession, inflation and horrible demographics. They are I think like the top 3 most aging population. They don't have a young population like at all...they will have to start accepting mass immigration from South East Asian nations like Phillipines, Indonesia and Thailand if they want to save themselves...but Japan is a insular monocultural nation with almost no history of immigration so it will be a tough and new concept for them to embrace. Currently they are trying to automize their nation to stave some of the impacts of their rapidly aging population but that can only last so long...they will have to cave in and allow south east asian immigration at long last. 

Their long term issue has been deflation. Inflation is more of a recent thing probably because of the global context

 

But yeah, they have some major long term chronic issues they are failing to adress and at this pace will keep stagnating and deteriorating

[Morphine Prince 109,683]

1 hour ago, Hyoha said:

Japan will keep falling off until they figure out how to make its population younger

Immigration is the answer. But they probably won’t become more lenient with their immigration policy. 

[Economy 52,861]

4 hours ago, Morphine Prince said:

Immigration is the answer. But they probably won’t become more lenient with their immigration policy. 

A country like Japan that has never accepted much immigration until now would also struggle to integrate them now even if suddenly they decided to increase their numbers significantly...

 

Most immigrants would be 1st generation immigrants in Japan which would make it tougher to establish oneself without family or an existing community that speaks their language

 

Japananeese is also not really spoken anywhere outside Japan... which would mean immigrants at first would not speak the language and it would hurt their productivity and work prospects at first

 

They may need to accept more immigrants. But the fact that they havent been very open so far also means that if that eventually changes, they will struggle at first to make full productive use of them as they will struggle i immigrate more than in other immigrant heavy Nations like USA, Canada, UK, Germany, France, Australia etc

[SevenWonder 4,748]

I think many saw this coming.

Since we're on the subject, I still think it's wild California (my home state) would have the fourth of fifth biggest economy in the world if it was its own country.

[CELINE 747]

 

Unfortunately, Both Japan and Germany are struggling because both are now in a technical recession.

Japan was surpassed due to its weakening yen. A Country's GDP is measured within the equivalence of the US dollar. 

 

Japan needs a shake-up, Demographically and in National Policy. The BOJ needs to tweak their policy of deflation further. Reconfigure work condition structures and their wages to the current economic demands. Unfortunately, a large chunk of Japanese companies still pay their employees as if they're still in 1999. 

That could perhaps boost spending, and demand, and allow people to have the luxury and time to start a family.

I doubt Japan will adapt itself to mass immigration. they'll loosen a few policies and make it less challenging to immigrate. But I just don't see Japan having the same openness as Canada and the U.S. Japan doesn't even accept a lot of refugees and It is also extremely difficult to attain that status.

Historically, Japan has always been homogenous. It's been ingrained in their society (for 2000 years) and they see immigration as a hindrance or disturbance towards their concept of societal harmony.  However, its younger generation is more open and accepting of foreigners and immigration. That at least is a good sign to those who want to immigrate. 

In terms of Automation, I think Japan will fully embrace it and will become one of the first societies to integrate automation into their lives. That includes AI, Industrial Robots (Which are already in full effect), Automated systems and machine-assisted dwellings. While other countries are beginning to develop economically, Japan is in a transformative phase of economic reliance through automation instead of demographic productivity. 

In the next coming decades, Japan is going to be the world's petri dish for smart cities and we will see if that kind of living is suitable for everyone or even in the West. If it's a success, the remaining Japanese people will reap the benefits. 

 

 

[Ayesha Erotica 1,924]

On 2/19/2024 at 8:46 PM, Economy said:

Germany is now the worlds 3rd largest economy at $4.4T USD while Japan is just below $4.3T despite Japans larger population

 

 

It's incredible how Germany at 84 Mio Inh. has a bigger GDP than Japan at 125 Mio Inh. Both are economically highly developped nations. Considering Japan has 41 million inhabitants more than Germany, that's Germany+entire Canada+Lithuania.

However, this doesnt mean that quality of life has become worse in Japan as compared to Germany, on the contrary, I'd prefer Japaneses deflation any time compared to EUs horrifying inflation. I read that the metrics are calculated in a way that do not benefit Japan.

 

Btw @Economy it seems Canada will surpass Polands population within 2 years. R U watching?

[Economy 52,861]

2 hours ago, Okinawa said:

It's incredible how Germany at 84 Mio Inh. has a bigger GDP than Japan at 125 Mio Inh. Both are economically highly developped nations. Considering Japan has 41 million inhabitants more than Germany, that's Germany+entire Canada+Lithuania.

However, this doesnt mean that quality of life has become worse in Japan as compared to Germany, on the contrary, I'd prefer Japaneses deflation any time compared to EUs horrifying inflation. I read that the metrics are calculated in a way that do not benefit Japan.

 

Btw @Economy it seems Canada will surpass Polands population within 2 years. R U watching?

Yeah its crazy. It reminds me of Canada about to surpass Italy economy even tho we got 40M people and they got closer to 60M. Both developed Countries. Thats almost 50% more people Italy has on Canada.

 

Shows gap in output even within developed world

 

And i didnt know it was gonna pass Poland but if the population keeps growing at Sub Saharan Africa  rates im not surprised. This is so unsustainable tho. The housing crisis is getting so bad they are finding apartments with 25 people, some are sleeping in kitchen floors 

[Ayesha Erotica 1,924]

14 hours ago, Economy said:

Yeah its crazy. It reminds me of Canada about to surpass Italy economy even tho we got 40M people and they got closer to 60M. Both developed Countries. Thats almost 50% more people Italy has on Canada.

Shows gap in output even within developed world

well, I read that the more southern EU countries (Greece, Spain, Portugal, Italy) are not competitive towards Germany/Scandinavia/Northern EU but they must share a common internal market for goods (EU mandatory) and somehow the weakness of Italy is partially explained by the strength of Germany. Basically, the less-strong countries cannot develop strong brands on their own because their place is taken by German/Northern companies. It's like this:

The technology and entertainment sector in EU is dominated by USA (Netflix, YT, Hollywood, apple, microsoft, google). The rest of the higher value chain is dominated by Northern EU/Germany. While agriculture products etc. come form Southern EU.

I think that CAN is also strong at the expense of Mexico because of the free trade union NAFTA.

So Italy and Mexico are the losers because free trade zones benefit the stronger countries.

[GagaSine 7,464]

On 2/19/2024 at 5:12 PM, dit said:

recession, inflation and horrible demographics. They are I think like the top 3 most aging population. They don't have a young population like at all...they will have to start accepting mass immigration from South East Asian nations like Phillipines, Indonesia and Thailand if they want to save themselves...but Japan is a insular monocultural nation with almost no history of immigration so it will be a tough and new concept for them to embrace. Currently they are trying to automize their nation to stave some of the impacts of their rapidly aging population but that can only last so long...they will have to cave in and allow south east asian immigration at long last. 

Dear Japan I am a hardworking person and will gladly assimilate and learn your culture, pls let me in 

Jk I know the work culture and sexism are kind of difficult over there. I like working and working hard but definitely not like 12+ hour days every day. And the wages are worse than Canada (but i think cost of living is cheaper so maybe it balances out?).

[Economy 52,861]

52 minutes ago, Okinawa said:

well, I read that the more southern EU countries (Greece, Spain, Portugal, Italy) are not competitive towards Germany/Scandinavia/Northern EU but they must share a common internal market for goods (EU mandatory) and somehow the weakness of Italy is partially explained by the strength of Germany. Basically, the less-strong countries cannot develop strong brands on their own because their place is taken by German/Northern companies. It's like this:

The technology and entertainment sector in EU is dominated by USA (Netflix, YT, Hollywood, apple, microsoft, google). The rest of the higher value chain is dominated by Northern EU/Germany. While agriculture products etc. come form Southern EU.

I think that CAN is also strong at the expense of Mexico because of the free trade union NAFTA.

So Italy and Mexico are the losers because free trade zones benefit the stronger countries.

I know southern europe for exports also struggles with a stronger currency than would make sense for their level of competitiveness. Germany meanwhile for example has it undervalued

 

As for Canada/Mexico i am not so sure about that...

 

Canada is not as huge on manufacturing as it used to be and if anything Mexico has grown faster in exports to the US when it comes to finished goods. Automotive is maybe a major exeption but even there Mexico is gaining an upper hand due to cheaper labor

 

Canadas exports to the US are predominantly comodities (especially Oil, Natural Gas, precious metals, lumber etc) and agriculture like wheat, canola, potatoes, apples etc that we can actually grow in pur climate

 

Despite NAFTA and interlinked economies the stuff Canada predominantly exports to the US is very different from what Mexico predominantly exports and as such I dont think they are as huge competition for eachother as some people might imagine

 

As for Canadas imports I do see a lot of stuff from US especially machinery but not so much Mexico other than produce tbh