Following the US, China and Germany, California seems to know rapid economic growth
Growth is aware of California’s economy that surpassed that of Japan by making US state the fourth largest global economic power.
State Governor Gavin Newsom referred to new data from the International Monetary Fund (IMF) and the US Economic Analysis Office that shows as he said California’s financial progress.
Specifically, figures show that California’s gross domestic product (GDP) reached $ 4.10 trillion in 2024, surpassing Japan, which reached $ 4.01 trillion.
In the first trinity are the US, China and Germany.
“California is not just in line with the world – we determine the rhythm,” Newsom said.
The new figures are coming as Newsom has opposed the duties of President Donald Trump and has expressed concern about the future of the state’s economy and the entire state.
‘While we are celebrating this success, we recognize that Our progress is threatened by reckless tariff policies of the current federal administration, “he said. “The California economy authorizes the nation and must be protected.”
The new figures show US GDP at $ 29.18 trillion, China at $ 18.74 trillion and Germany at $ 4.65 trillion.
Japan’s economy is under pressure Due to the reduction and aging of its population, which means that its workforce is shrinking and the cost of social care is increasing.
This week, the IMF has reduced its forecast for Japan’s economic growth and predicted that the central bank would raise interest rates more slowly than expected due to the impact of higher duties.
Source: Skai
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