China’s economy slows
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California gained the No. 5 global ranking in 2017 and then rose to No. 4 last year following a long-running dip in the Japanese economy. This scorecard reflects both geographic economic progress and fluctuations in the U.S. currency. Japan’s jump is due, in part, to its strong yen performance against the dollar in 2025.
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California Drops to Fifth-Largest Global Economy
California has fallen to the fifth-largest global economy, overtaken by Japan. The Golden State's GDP grew 5% to $4.215 trillion, but Japan's 6.5% growth pushed it to fourth place.