The more efforts are made to pull the economy out of recession, the deeper it plunges. Between April 26 and 28 this year, the Japanese yen experienced a sharp decline, reaching a 34-year low against the dollar. The yen’s value fluctuated around 156 to 158 yen per dollar, and on April 29, it briefly surpassed 160 yen per dollar. During the same period, the yen stood at 171 per euro. In 2023, Japan lost its status as the world’s thirdlargest economy to Germany due to the weak yen. Notably, China had already pushed Japan to third place in 2010. This article explores why Japan, once a strong economy in the 1960s and 1970s, has dramatically declined over the past four decades and examines the implications of Japan’s latest economic developments for India.
Japan - The Superpower of the 1960s
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