"Japan Slips to No. 4 in Global Economy Ranking as Recession Hits"

Japan's economy has slipped into a technical recession after contracting in the last quarter of 2023, causing it to fall behind Germany and lose its spot as the world's third-largest economy. Factors contributing to Japan's relative weakness include a declining population, lagging productivity, and a weaker currency. The country's economy has struggled since the collapse of its financial bubble in 1990, with stagnant wages, declining private consumption, and businesses investing more in faster-growing overseas markets. The gap between developed countries and emerging nations is shrinking, with India expected to overtake Japan in nominal GDP in the coming years.