Tag: Global Economy
-
Japan Experiences Economic Recession, Loses Third Spot in World’s Largest Economies
Unexpected Downturn Japan, once boasted as the third-largest economy of the world, has shockingly slipped into a recession and lost its spot. According to the Cabinet Office of Japan, the gross domestic product (GDP) of Japan shrank for two consecutive quarters, meeting the traditional definition of a recession. Since the last quarter, Japan’s GDP declined…