Economics

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California overtakes Japan to become fourth largest economy in world (www.newsweek.com)

submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world

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The Californian economy has overtaken Japan's to become the fourth-largest in the world by gross domestic product (GDP).

That is according to data from the International Monetary Fund (IMF) and the Bureau of Economic Analysis (BEA), a fact highlighted by the California governor's office as it battles President Donald Trump's trade policies.

The IMF put Japan's GDP at $4.02 trillion in 2024. That compares to California's GDP of $4.1 trillion for the same year, according to the BEA's figures. It places the state behind only the United States, China, and Germany in global rankings.

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[–] sin_free_for_00_days@sopuli.xyz 4 points 1 week ago

And we keep sending tax money to welfare red states that bitch about us. We also have this great economy, yet can't seem to build a high speed train network no matter how much money we spend. In addition to a fucking ridiculous housing market crisis that could be addressed with some highly progressive tax structures on dwelling ownership. But, yay us, I guess. Our fast-food workers get at least $20 an hour. I'm not sure why a "liveable wage" is only important to fast-food workers, but they were also considered critical workers during the pandemic, and that minimum wage is still below where it should be, taking historical inflation into place.