Japan is highly dependent on imports and is mainly a service economy, now struggling due to tariffs and other supply chain issues which are driving inflation a d hindering growth. India overtook Japan in GDP this past weekend.
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kirk781@discuss.tchncs.de 4 weeks ago
A technical correction, India is the 5th largest economy measured by GDP as of now. IIRC US, China, Japan and Germany are ahead. Whilst India will overtake the latter 2 soon and become 3rd largest in a matter of time, it will likely stagnate at that position for a long time since China and US are way ahead.
shawn1122@lemm.ee 4 weeks ago
destructdisc@lemmy.world 4 weeks ago
India overtook Japan in total GDP yesterday
kirk781@discuss.tchncs.de 4 weeks ago
Ooh, my bad. Indeed it did overtake it. Reminds me of the UK overtake where it was a close race for some time (first India went ahead, then UK again raced ahead before India fleecing ahead finally for good).