South Korean media: California's economy surpasses Japan, ranking fourth in the world!
On May 15th, South Korean media "Maeil Economy" published an article stating that Gavin Newsom, the governor of California, said that California's economy has surpassed Japan and jumped to the fourth place in the world.
According to the latest data released by the International Monetary Fund (IMF) and the Bureau of Economic Analysis (BEA) of the United States, California's nominal GDP reached $4.1 trillion in 2024, exceeding Japan's $4.02 trillion.
California's GDP ranks fourth in the world, just behind the United States, China, and Germany. Newsom introduced, "California's economic growth rate has exceeded the top three economies in the world."
In 2024, California's economic growth rate was 6%, higher than that of the United States, China, and Germany.
California, with a population of 40 million, has the global technology industry center San Francisco and the global entertainment industry center Los Angeles.
Newsom explained that California has the largest agricultural production in the United States and is also the center of American manufacturing, with about 36,000 manufacturers employing 1.1 million residents.
California provides $83 billion more to the federal government than it receives from it.
Newsom said in a statement, "California is not only keeping pace with the world, but also leading this step. Our prosperity is due to our investment in people, prioritizing sustainable development, and believing in the power of innovation."
He also criticized President Donald Trump's policies, which threaten California's economic interests.
Newsom said, "While celebrating this success, we recognize that our progress is being threatened by the reckless tariff policies of the current federal government. California's economy is the driving force of the United States, and we must protect it."
The California state government recently filed a lawsuit with the federal court, stating that President Donald Trump abused his emergency powers to impose tariffs unconstitutionally and illegally.
Source: https://www.toutiao.com/article/1832189037522944/
Disclaimer: The article only represents the author's personal views.