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Japan's 1st-quarter GDP shrinks, hit by COVID restrictions, higher prices

12 Comments
By Kyoko HASEGAWA

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12 Comments
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It will be negative during 2nd and 3rd quarter too! It won't bounce back unless they open the border to tourism. The ripple effect of opening the border for tourists will help Japan's economy bounce back!

0 ( +6 / -6 )

People were laughing at the fact that China's GDP growth was a 'mere' 4-5%. I'd hate to see their reaction at the GDP growth of US and UK. One was 0.1%, the other, like Japan, was negative. In fact, since the start of 2021, 3 out of 5 quarters saw negative growth in Japan, and they didn't have a single lockdown (not that they had one in 2020).

-3 ( +4 / -7 )

The country has recorded around 30,050 deaths despite avoiding harsh lockdowns

And not avoiding pumping a massive amount of yen stimulus into Japan Inc. and many people in economic distress with little recourse.

3 ( +7 / -4 )

What COVID restrictions?

0 ( +6 / -6 )

Released GDP numbers are undeniably fake.

We will never know the real GDP.

Kishida won’t commit to GDP recalculation over fake data

https://www.asahi.com/ajw/articles/14537359

-2 ( +5 / -7 )

Maybe the 32million tourists who came in 2019 would have helped the economy a bit….

reap it!

-4 ( +7 / -11 )

Economists expect the economy to recover again in the April-June quarter now that virus restrictions have been lifted, but caution there are some caveats.

How about asking the man in the street what they think?

I have seen the decline of Japan over a long period and I see no chance of Japan ‘bouncing back’.

The politicos are all out of ideas and have nowhere to push up the economy.

The best the LDP can come up with is a measly yearly handout for the people.

Japan will be in a recession this year-mark it.

-5 ( +4 / -9 )

International tourism accounted for just under 1% of Japan's GDP when it was at its peak. So yes, opening the flood gates back up would put Japan's economy back into positive growth. Still, that extra percentage point is likely insufficient for the elected government to risk the political capital of letting the tourists back in. North Korean-style restricted and controlled tours aside, I very much doubt that unrestricted border entries and freedom of movement will resume for at least a year from today, and at most, 2-3 years.

-1 ( +6 / -7 )

All one can do is prepare for the worst, this is just the beginning. It will get worse before it gets any better. We haven't seen the bottom yet, we have to get closer to the bottom before we can start making a change to get back to the top. World markets are in turmoil the biggest 3 economies, when you have that happen, all one can do is, wait for a correction, the only problem is identifying what to correct.

-3 ( +3 / -6 )

Released GDP numbers are undeniably fake.

We will never know the real GDP.

Kishida won’t commit to GDP recalculation over fake data

https://www.asahi.com/ajw/articles/14537359

Japan accuses of China being fake. Ironically, Japan is now even more fake.

-3 ( +4 / -7 )

Nothing fake to me, seems like it's a miscalculation of data but the same methodology was used in previous years so GDP figures are likely to reflect actual conditions.

Besides IFRS reporting standards and methodology changes regularly, it's not a question of scam more of whether methods are updated to reflect new environment.

-2 ( +0 / -2 )

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