Japan has recently slipped to the fourth-largest economy globally, behind the U.S, China, and now Germany.
About Largest Economy:
- The comparison of economies is on nominal terms.
- Top 3 Economies: USA, China, and Germany.
Reasons for Japan’s declining economy:
- Reasons for the Declining Status of Japan:
- Population Decline and Aging
- Economic Competitiveness Erosion
- Rise of China
- Labor Shortage Challenges
Ref: Source
| UPSC IAS Preparation Resources | |
| Current Affairs Analysis | Topperspedia |
| GS Shots | Simply Explained |
| Daily Flash Cards | Daily Quiz |