Next to the USA, the second largest economy in the world used to be Japan. But after the bubble collapsed, the Japanese economy has been stagnant and, in 2012, fell to third place. Second place, as you probably know, was taken by China, whose economy is expanding at an unprecedented rate.
China’s rise is an undeniable fact. But is it true that Japan is on the wane? Mr. Chong Wong, a Chinese expert on diplomatic issues, took up the question. Writing on his blog (Chinese only), Mr. Wong offered up evidence that Japan wasn’t in decline but was actually the best in the world in some ways. We’ve listed the major ones below.
