May 01 2014

India Overtakes Japan as World’s Third Largest Economy

Category: Japan Related,News WorldIchiban @ 1:21 pm

World Bank: India Overtakes Japan as World’s Third Largest Economy
In purchasing power parity (PPP) terms, India is now the world’s third largest economy — surpassing Japan.

By Ankit Panda
May 01, 2014

In a sliver of good economic news during an Indian election that is widely focused on economic growth, the World Bank announced in a report on Tuesday that India overtook Japan as the world’s third largest economy in terms of purchasing power parity (PPP). According to the World Bank’s International Comparison Program (ICP) data, India holds a 6.4 percent share of global GDP on a PPP basis. The United States remains in first place with a 17.1 percent share and China trails it at 14.9 percent. Japan, while still the world’s third largest economy in nominal terms, holds a 4.8 percent share of global wealth.

The ICP’s data is from 2011. Overall, India went from 10th place in 2005 to 3rd place in 2011. ”The United States remained the world’s largest economy, but it was closely followed by China when measured using PPPs. India was now the world’s third largest economy, moving ahead of Japan,” the report noted. “Because economies estimate their GDP at national price levels and in national currencies, those GDPs are not comparable. To be compared, they must be valued at a common price level and expressed in a common currency,” the report explains, outlining the justification for a PPP-based comparative look at world GDPs. In exchange rate terms– that is, when all the national currencies are converted into U.S. dollars at current exchange rates– the Indian economy remains about a third of Japan’s in size, comparable to the Russian or Canadian GDPs.

PPP is particularly important in the study of poverty levels and quality of life across countries as it adjusts for price changes across national economies. PPP, for example, is used by the World Bank in its poverty threshold of $1.25 per day per person. Given that a dollar can buy more in some countries and less in others, PPP-based comparative analyses allow for comparisons between economies. For India, the bad news is that its GDP per captia in PPP terms still ranks the country 127 out 199 — a reminder that the country has much to do in combating poverty. ”The largest economies were not the richest, as shown in the ranking of GDP per capita. The middle-in-come economies with large economies also had large populations, setting the stage for continued growth,” the report noted.

The World Bank’s report has been widely featured in the Indian media and is a morale-improving piece of news for a country that has been besieged by high inflation, stagnant growth, corruption, and other economic ills in the past year. Narendra Modi, the Bharatiya Janata Party’s candidate for prime minister in the ongoing election and the front-runner, rose to popularity primarily because voters see him as a candidate capable of transforming India’s economy for the better. Modi has frequently held up his (debatable) economic achievements in his home state of Gujarat, where he was chief minister, and has claimed that he would transfer that model of governance to India as a whole.

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Mar 18 2011

Messages From Japan

Category: Earthquake,Japan News,Japan Related,News WorldIchiban @ 12:31 am

Messages from Japan
I was just sent a block of Japanese messages submitted by people throughout the country. I needed to share these, as they brought tears to my eyes, so here is my best translation. It is sad to say but you would never see this type of behavior in so much of America these days. I want Americans to see what America could be (and perhaps used to be)! -ben —–

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Mar 16 2011

CNN & other foreign media grossly mis-reporting the facts

Category: Earthquake,Japan News,Japan Related,News WorldIchiban @ 8:13 am

Quite annoying to see that almost every report about the situation in Japan is littered with errors.
Don’t believe anything they are saying unless they back it up with visuals or confirmed facts.

A good depiction of the situation is sensibly reported here: UK in Japan

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Mar 16 2011

Live Geiger counter feeds in Japan

Category: Earthquake,Japan News,News WorldIchiban @ 8:03 am

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Mar 15 2011

Fukushima Radiation Levels

Category: Earthquake,Japan News,Japan Related,News WorldIchiban @ 7:03 am

Status of damage reports

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Jan 26 2011

Stephen Fry & BBC apologises to Japan for atomic bomb joke

Category: Japan News,News WorldIchiban @ 9:05 am

The BBC has issued an apology after Stephen Fry described a Japanese victim of two atomic bombs as “the unluckiest man in the world” during a comedy quiz show.

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Dec 30 2010

Google Ad Revenue

Category: News WorldIchiban @ 2:40 pm

Good to see google putting a lot of their ad revenue to good work.

HAPPY HOLIDAYS!

Dear Japanichiban,

Thanks to you, this holiday season Google is able to donate $20 million to charitable organizations around the world. They in turn will help improve the lives of over 50 million people. Click here to see how.

Thank you for being a part of what Google is today. All this is possible because of you.

Have a wonderful holiday.

Google

We also want to make a donation to Alda too before February!

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Dec 08 2010

Japanese Rock Sensation The Beatles

Category: J-pop,Japan Related,News WorldIchiban @ 7:28 pm

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Dec 07 2010

Last Asahi English Newspaper

Category: Japan Related,News WorldIchiban @ 6:05 am

Will be February 28th. (printed version)

http://www.asahi.com/english/

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Dec 01 2010

Narita Ueno 1000 yen New Shuttle Bus

Category: Japan Related,News WorldIchiban @ 9:41 pm

1,000 yen Shuttle from Narita to Asakusa/Ueno will debut today Dec, 1, 2010

Alternative competitor to Keisei Skyliner

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