Fall in rank below Germany has been attributed to a weak yen and country’s ageing, shrinking population

Japan has been eclipsed by Germany as the world’s third-biggest economy and has slipped into recession, according to data released Thursday, as the country battles a weak yen and an ageing, shrinking population.

Japan’s economy, now the world’s fourth-biggest, grew 1.9% in 2023 in nominal terms – meaning it is not adjusted for inflation – but in dollar terms its gross domestic product (GDP) stood at $4.2tn compared with $4.5tn for Germany.

The shift, coming more than a decade after it ceded second place to China, has been attributed to the yen’s sharp falls against the dollar over the past two years. A weaker yen eats into profits on exports when earnings are repatriated. The Japanese currency dropped by almost a fifth against the US dollar in 2022 and 2023, including a 7% fall last year.

  • tiredofsametab
    2•9 months ago

    I mean, getting a work visa in Japan isn’t really all that difficult. You basically need a 4-year degree and a company to sponsor you.

      • tiredofsametab
        3•9 months ago

        Those things are achievable. Another option is to come on a student visa to either language school or university and work from that angle.

      • tiredofsametab
        2•9 months ago

        Well, that’s true. The other option is to save up and move to a country where the cost of education is super low/free and then either stay there or move on to Japan.