California overtakes Japan as fourth largest global economy

California’s economy has surpassed Japan’s, making it the fourth-largest in the world with a GDP of $4.10 trillion, according to new data from the IMF and US Bureau of Economic Analysis. Governor Gavin Newsom emphasized the significance of this achievement while expressing concerns about the potential negative impact of President Trump’s tariffs on California’s growth, which is vital for the nation. Despite California’s rapid economic advancement, Japan’s economy faces challenges due to its declining population and rising social care costs, leading to a downgraded growth forecast.

Full Article