<\/a>Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. The estimated GDP in 2012 was of $5.984 trillion, which makes Japan the 5th most developed economy in the world. The economic growth was of 0.2%, in comparison to 2011, when it reached -0.8% and in comparison to 2010, when it was of 4.5%. Also, the GDP per capita is of $36,200. Still, 16% of the Japanese live below World Bank\u2019s poverty line. The new government from Tokyo will continue a longstanding debate on restructuring the economy and reining in Japan’s huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.<\/p>\n