According to data released by the Cabinet Office of the Japanese Government on February 15, the country’s GDP shrank at an annualized pace of 0.4 percent in the last three months of 2023 after having contracted by an annualized 3.3 percent, causing it to lose its position as the world’s third largest economy to Germany.
One month ago, a report from the Japanese Chamber of Commerce and Industry (JCCI) in China was released, pointing out that Japanese companies operating in China perceived a modest improvement in its economic performance in 2023.
More than half of Japanese companies increased or maintained their investments in China last year and 88 percent of the companies surveyed considered China one of their most important markets globally, the
