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The global economic recession of the late 2000s significantly harmed the economy of Japan. The nation suffered a 0.7% loss in real GDP in 2008 followed by a severe 5.2% loss in 2009. In contrast, the data for world real GDP growth was a 3.1% hike in 2008 followed by a 0.7% loss in 2009. [130]
The period of rapid economic growth between 1955 and 1961 paved the way for the Golden Sixties, the second decade that is generally associated with the Japanese economic miracle. In 1965, Japan's nominal GDP was estimated at just over $91 billion. Fifteen years later, in 1980, the nominal GDP had soared to a record $1.065 trillion. [citation ...
Japan's defeat in World War II (in 1945), after which the island nation rose to become the world's second-largest economy. The Lost Decades (the 1990s, 2000s and arguably 2010s), during which the country struggled to get out of deflation and extremely low or negative growth.
The Japanese economic miracle, which died more than two decades ago, may be in the early stages of resurrection. First-quarter gross domestic product (GDP) rose 3.5%, a number that was not matched ...
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
Japanese Miracle Resurrected The Japanese economic miracle, which died more than two decades ago, may be in the early stages of resurrection. First-quarter gross domestic product (GDP) rose 3.5% ...
Japan rapidly caught up with the West in foreign trade, GNP, and general quality of life. The high economic growth and political tranquility of the mid to late 1960s were slowed by the quadrupling of oil prices in 1973. Almost completely dependent on imports for petroleum, Japan experienced its first recession since World War II.
Economic data issued by the Japanese government proved what many economists have feared. Japan, the world's third largest nation by GDP, has gone into a recession, joining the largest area by GDP ...