Japan's economy bumped to number 3 spot

[Skilero]

China is now the second largest economy in the world;
http://news.yahoo.com/s/afp/20110214...p/japaneconomy

Japan is still "crawling out of a year-long recession from 2009". The Japanese people's morale, in a recent 50-country poll (see the Wall Street Journal's latest article), shows it as one of the most pessimistic countries polled (coupling it with Romania). This can be attributed to the Japanese people's not being used to economic decline (as their number of jobs is decreasing) ever since having a growth spurt after taking eastern Germany in WWII.

Growth in China is not steady, however, and economists expectations are constantly being proven either too large or too small. China's economy does have a trend of growth, but the yuan's value is not steady with this trend and it is usually lower than most economists' predictions.

With the China's economy climbing, regardless of any other variables, it is projected to reach the number 1 spot by 2025.

Even Tokyo's mayor has been pessimistic about it all, saying the decline is "unfortunate", offering no real hopeful outcomes to the situation. This goes against what Shintaro Ishihara stoody for in the 1980's (he even published a book back then to stand for his nationalism named "A Japan That Can Say No". Note that while his nationalism is in question against the accusation that it is only fueled because of the need for a distraction against his tired administration, but if that were entirely true I would think Mayor Ishihara wouldn't be quoted for saying negative things about Japan's economy so bluntly.

Another new development in the story is that the United States is no longer the number one exporter to Japan as well. China is now the number one exporter to Japan. While Japan's economy is ten times smaller than China's, the two are strengthening relations and are projected to grow with eachother in the distant future.

To end on a good note, let's keep in mind that Japanese people's income per-person is still averaged out at $40,000, which is about ten times more than China's.

Also, for those of you looking for something much less bleak than this article, you can read this: http://www.japanprobe.com/2011/02/04...re-immigrants/.

Comment!
Sasorikiller