ICYMI: California Is Set to Overtake Japan as the Fourth-Biggest Economy

SANTA CRUZ - Bloomberg claims that California is on track to surpass Germany as the fourth-largest
economy in the world as it continues to beat the United States and other nations in terms of GDP
growth, company market value, renewable energy, and other metrics.

Governor Newsom stated, "While naysayers frequently claim that California's finest days are behind
it, evidence indicates the opposite — our economic growth and employment gains continue to
propel the nation's economy." "California's ideals and entrepreneurial spirit have fueled this rise to
the position of fourth-largest economy in the world, and we'll keep doubling down on future-looking
businesses like renewables and clean energy. I am incredibly proud of California's fortitude,
leadership, and our winning recipe.

The following are some of the main conclusions from Bloomberg's data:

-In numerous industries, California performs better than the US and the rest of the globe. This is
especially true for California's fastest-growing industry, renewable energy.

-The trajectory of California is most evident in the widening gap between its 379 businesses with a
market worth of at least $1 billion, according to the study.

-In the last three years, sales of Californian technology hardware, media, and software increased by
63%, 95%, and 115%, respectively. These increases helped to improve market valuations by 184%,
54%, and 58%.

-The unemployment rate dropped to 3.9% in July, the lowest level recorded since data collection
began in 1976, indicating that job growth is a particularly strong region. California's unemployment
rate dropped below Texas'.

In order to help Californians cope with growing inflation and prices, Governor Newsom has put into
place a $52 billion financial aid program. It offers $26 billion in direct payouts, $15 billion in tax relief
and subsidies for businesses, among other things, making it the most extensive and substantial
stimulus program in the country.

According to Bloomberg, California's fastest-growing industry is now renewable energy. Governor

Newsom has intensified his commitment to sustainable energy and zero-emission cars by enacting a
$10 billion package to lower the cost of purchasing ZEVs for Californians while expanding the state's

Contrary to common assumption, the Golden State has shown resiliency, performing better than its
US and international counterparts.

Through Matthew A. Winkler

24 October 2022
The media narrative of earthquakes, ongoing wildfires, droughts, homelessness, and businesses
leaving California for Texas in search of a tax- and regulation-free lifestyle is one that Gavin Newsom
is as familiar with as anybody. It's nothing new, really. In a 1994 Time Magazine cover story, it was
stated that "a spate of calamities shocks the state to its very core, compelling Californians to reflect
on their fate and the waning shine of its golden ideal." The governor of California recalled this.

The state's 40th governor nevertheless asserted that "the California ideal is still alive and strong" in a
Zoom interview conducted a month before his certain reelection.

He is correct. The economy of California has shown to be comparatively durable, first through the
epidemic and now during the present time of high inflation. a great extent that