Can Japanese Economy maintain its ranking as 3th world Economy or down to 5th economy after Corona?


Before and during World War II, Japan was a military power with ambitions to be king in Asia. Japan was the first high-tech country in Asia and was able to fight the west and tried draw the west out of Asia. During World War II, many nations were killed by Japanese troops, including the United States. After World War II, the United States destroyed Japanese military and left tens of thousands of soldiers and civilians dead and casualty. Japan, which has become a powerless country under the protection of the United States, has sought to restore its economy and society to the point of ambition to become an economic power.

Since 1945, the United States has sought to establish a rule over the world, and in particular to control the nations that lost the war. Japan, a failed country, was on the right track, focusing on economic development, education and high technology. More than 40 years later, Japan became a major economic power in the 1990s. Most countries all over the world appreciate the quality of Japanese products. The economists predicted that Japan would become the number one economic power to replace the United States.

However, Japan who lives under US’system and protection was again contained and left as the second largest economy until 2010. In 2010, Japanese enemy, China, with deep political and political differences and ambitions to become the world’s largest economic and military power, overtook Japan to become the world’s second largest economy.

Japan, which has fallen into the third largest economy in the world, has become an Asian country that is getting closer to the West to counter China, the Asian power.

The economy of the world’s third largest economy, Japan,  also hit hard by the epidemic. The global financial crisis of 2008 hit hard and became a challenge to the Japanese economy for almost 10 years. Japan’s growth depends on high technology, leading industries, exports and imports, and overseas investment.

The Declining of domestic and foreign demand, declining population, rising public debt and rising old population have already weakened the Japanese economy. The new arrival of the coronavirus seems to bring a new catastrophe to this country. “Japan’s economy is going down,” said the Japan Center for Economic Research.

Areas of major economic hubs such as Tokyo, Osaka, Ganagawa, Fukuoka, which account for up to 46% of Japan’s economic growth, were also closed. Government spending to deal with the crisis has increased two to three times compared to the 2008 global financial crisis. Now, rainy season brings flood many places, in addition to the corona crisis.

The experts predict Japanese Economy will lose its leverages and ranking from the world third largest economy to number 4 or 5, or even 6 in the next few coming years.

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