japan economy News

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World Bank: Japan Reconstruction Could Take 5 Years

SINGAPORE -- Japan may need five years to rebuild from the catastrophic earthquake and tsunami that has caused up to $235 billion of damage, the World Bank said Monday. The March 11 disaster -- which killed more than 8,600 people and left more than 12,800 missing, and ravaged northeastern Japan -- will likely shave up to...

Japan's Economy Shaken by Quake; Damage May Be Costliest Ever

The human cost of last week's earthquake and tsunami in northern Japan is now well known. At least 10,000 people are thought to have died in the tragedy and another 500,000 have been left homeless. What's less clear is the long-term damage this natural disaster may have caused the country's economy, which has been...

Media Analyzes Economic Impact of Japan Earthquake [VIDEO]

Now the No. 2 Economy, What's Ahead for China?

(Aug. 16) -- The Chinese economy is now larger than Japan's -- a symbolic development that also signals a strategic shift in Asia's power balance. China's gross domestic product is now $1.335 trillion, surpassing Japan's GDP of $1.286 trillion, which isn't adjusted for price and seasonal variations, according to the...

China Overtakes Japan as World's No. 2 Economy

TOKYO (Aug. 16) -- Japan lost its place as the world's No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery. Gross domestic product grew at an annualized rate of just 0.4 percent, the government said Monday, far below the annualized 4.4 percent expansion in...

Background on japan economy

The economy of Japan is the third largest in the world after the United States and the People's Republic of China and is the world's second largest developed economy According to the International Monetary Fund, the country's per capita GDP (PPP) was at $34,362 or the 24th highest in 2011.

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