Japan’s economy has been in a comatose state for over two decades, and the country continues to face hurdles that threaten the next several years. And just when Japan’s gross domestic profit (GDP) growth was showing some life, the eurozone mess surfaced and wreaked havoc.
From 1981 to 2010, Japan’s average GDP growth was 2.2% with a high of 9.4% in March 1988; but this seems to now be in the distant past, based on the soft projections going forward.
In the second quarter, Japan’s GDP growth was a meager 0.3%, well below the 0.6% estimate and the promising 1.3% in the first quarter. Over the past decade, Japan’s GDP growth expanded at a snail’s-pace average of 0.2% quarterly.
In the following chart, take a look at the comparative GDP growth over the past five years between China and Japan; notice the significant difference in GDP growth between the two countries.
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