JAPAN – WTF is Going On? Recession, Yen Crash, Negative Interest Rates, Ageing & Falling Population
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Japan, once the third-largest economy in the world, has fallen into a recession. The official definition of a recession is two consecutive quarters of negative GDP growth, which Japan has experienced. The country’s GDP growth rate has been declining, with five out of the last 10 quarters posting negative growth. The value of the Japanese Yen has also been weak, falling 31% over the last three years. This has a significant impact on Japan’s economy, as it is dependent on exports. The country’s population is also declining, with a birth rate of 6.99 per 1,000 population, compared to a death rate of 11.7 per 1,000. This means that there are more people dying in Japan than being born, leading to a declining population and an aging population. The population is expected to fall to less than 100 million by 2056, which will put a strain on the state’s ability to support the older population. The author concludes that Japan’s recession is likely to continue, with the country unlikely to regain its position as the third-largest economy in the world.