By Shane Croucher and Hugh Cameron – Breaking News Editor:
The Californian economy has overtaken Japan’s to become the fourth-largest by GDP in the world.
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.
It would not have surpassed Japan if the costs of these were not so damn high, plus being the most populated state and having a large number of obese and unhealthy folks living in it (27–30%, compared to 4-6% in Japan – below the national average, but significantly higher than Japan).
Japan, in comparison, have Automobile Manufacturing, Electronics & Machinery and Banking & Financial Services as their top 3 sources of revenue.
Why does it matter?
So we gotta minus the California GDP from the U.S. GDP now. China just caught up.
That is not how it works.
As a california resident, this actually doesn’t surprise me that much. There are taxes on top of taxes on top of taxes here. Shouldn’t be that difficult to achieve such a high GDP when you siphon it from your residents.
Welcome to hotel california, where you can checkout anytime you like, but you can never leave.
Make Tokyo independent. Then Japan can have two entries in the G20.
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By Shane Croucher and Hugh Cameron – Breaking News Editor:
The Californian economy has overtaken Japan’s to become the fourth-largest by GDP in the world.
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.
Read more: [https://www.newsweek.com/california-overtakes-japan-become-fourth-largest-economy-world-2063416](https://www.newsweek.com/california-overtakes-japan-become-fourth-largest-economy-world-2063416)
congratulations
Ok?
California is a country!
Doubt thatll last long under Trump
Three of the top 5 sources of revenue for California is health and drug related (insurance, drugs, hospitals). [[Source] ](https://www.ibisworld.com/united-states/economic-profiles/california/)
It would not have surpassed Japan if the costs of these were not so damn high, plus being the most populated state and having a large number of obese and unhealthy folks living in it (27–30%, compared to 4-6% in Japan – below the national average, but significantly higher than Japan).
Japan, in comparison, have Automobile Manufacturing, Electronics & Machinery and Banking & Financial Services as their top 3 sources of revenue.
Why does it matter?
So we gotta minus the California GDP from the U.S. GDP now. China just caught up.
That is not how it works.
As a california resident, this actually doesn’t surprise me that much. There are taxes on top of taxes on top of taxes here. Shouldn’t be that difficult to achieve such a high GDP when you siphon it from your residents.
Welcome to hotel california, where you can checkout anytime you like, but you can never leave.
Make Tokyo independent. Then Japan can have two entries in the G20.