👉Japan Economy Collapsing -- Yet The Worse is still to Come 👉 Subscribe to my Backup Channels :
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Japan, the world’s third-largest economy, shrank at the fastest rate in five years at the end of 2019 as it was hit by a sales tax rise, a major typhoon, and weak global demand.
Japan has suffered its worst quarter since 2014. Japanese GDP shrank by 1.6% in the final quarter of this year, the equivalent of a 6.3% annualized slump.
This without counting the impact that the coronavirus will have on the Japanese economy.
Economics fear that Japan, the world’s third-largest country, could fall into recession this year.
As the coronavirus hits companies exposed to China. The coronavirus spreading across Asia and the world is very likely to hammer Japan and the yen.
The coronavirus is already taking a toll on the number of Chinese tourists to Japan and manufacturing activity due to the economy’s close ties with China, prompting some economists to forecast a contraction lasting two quarters.
The Japanese economy greatly benefits from the horde of tourists that usually come over from China, and the two nations have developed a very close trading relationship.
In Japan, the authorities are growing increasingly concerned about a rising number of cases.
Until now, the picture in Japan has largely focused on the cruise ship, the Diamond Princess, which is still more incidentally just down the coast in the port of Yokohama.
Although the vast majority of passengers have now disembarked after one over two weeks in quarantine but separate to the 700 or so cases linked to that ship.
The Japanese authorities now say there are around a hundred and fifty reported cases elsewhere in the country.
They're dotted all over, and the concern really for the health authorities is that they're really struggling to try and work out how and where those people became infected.
It is an increasing problem, a big headache for the Japanese authorities.
Because in five months' time, Tokyo is due to host the 2020 Olympics. If this epidemic is not contained by the time of the Tokyo Olympic Games, the damage to the economy will be huge.
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