business

BOJ says Japan's economy faces extremely high uncertainty on pandemic hit

26 Comments
By Leika Kihara

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© Thomson Reuters 2020.

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26 Comments
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Really! Japan's economy was tanking anyway. With the virus it's an excuse not a cause.

18 ( +22 / -4 )

Was it any better before the pandemic? Me thinks no.

16 ( +21 / -5 )

I think in a few months this will pass and the preparations for the Olympics will pull things up.

-11 ( +4 / -15 )

I’d love to be the head of a large corporation and receive various bailouts without lining up to deal with onerous bureaucracy, but I am not.

As a foreigner I cannot rely on the Japanese government to aid me even though I have paid many taxes over many years.

In fact there are LDP politicians actively speaking out against the idea that foreign residents are entitled to anything.

I have been through disasters here before and learned that as a foreigner in Japan that you are on your own....

17 ( +20 / -3 )

kurisupisu,

You are spot on......we are truly on our own.

11 ( +14 / -3 )

The bird in the photo's foreground should be a vulture...

6 ( +7 / -1 )

I don't feel like I am on my own at all here. Have a Japanese spouse which is very helpful and have Japanese friends that would give me their arms.

I find the bureaucrats pretty much ok, but redundancy is rampant.

Paper pushing is big too, and lack of computer actually might be beneficial in a big power outage, but fire would mess with that.

I bet everything returns to normal within 5-8 years.

-4 ( +6 / -10 )

I totally agree with Kuripitsu.

Long timer here as well and with a J-spouse as well.

But what some miss here is that it is pretty unfair to rely only on your Japanese spouse to survive.

We pay the taxes same as the locals and we’re entitled to have the same civil rights as them but we don’t.

This can be ok in a third world country bu not for a developed and civilized society.

This huge problem will probably rise again Japan’a tendency to auto isolate itself as it happened already several times in history.

If you’re a foreigner in Japan and have any options to go back to your country if it’s a developed one just go home.

As my family and I planned.

6 ( +13 / -7 )

no problem! $1 trillion stimulus 

6 ( +6 / -0 )

Something tells me we didn't need the BoJ governor to make that statement to tell us of our own uncertainty...

6 ( +7 / -1 )

Yes. I could still get stimulus from the New Zealand government for paying tax all those years there. I've been in Japan for the last 3.5 years. I'm beginning to seriously consider going back. My poor schools in Sapporo would be in a bad spot though. But I know I probably won't get support, even with a Japanese wife...

2 ( +4 / -2 )

Most countries will suffer economically. Japan is getting a double punch.

3 ( +4 / -1 )

My Japanese wife and I have been together for more than 30 years, first in the UK and then here in Japan. We are together almost 24/7 since we both work from home. Me has an artist, her teaching students and together doing translations.

We work has a team and pull has a team. She has never been a "housewife" and we share all the household chores.

She is free to go out whenever she wants, meet her friends, visit her family in Tokyo. I don't question her movements or spy on her in anyway. We have separate bank accounts but my wife takes money from my account when she needs it.

We don't have children here so we didn't have that to deal with.

We are both 70 years and sort of semi retired and receiving some pensions. But we still need to work.

We are surrounded by good friends and good neighbors too.

We will deal with the coronavirus pandemic together and we will do our best to take care of each other and others as well.

15 ( +16 / -1 )

The problem is not coronavirus. The problem is that Abe and the LDP have totally mismanaged finance during the last decade or so and left NOTHING for any emergency. Abe even got talked into buying 105 F-35's that are ridiculously expensive and not even a finished product.

11 ( +13 / -2 )

You wanted the bicycle... now ride it.

Did you want the emergency declaration without emergency? Now face the economic crisis that comes with it.

You could have avoided it... and with all the evident cases abroad to learn from.

4 ( +4 / -0 )

 The problem is that Abe and the LDP have totally mismanaged finance during the last decade or so and left NOTHING for any emergency. 

The list should include Ministry of Finance that is stubbornly against the handout.

Some independent Japanese media, not mainstream of course, says that Ministry of Finance have upper hand because it kept its mouth and doctored all the record to protect Abe in the Moritomo scandal.

7 ( +7 / -0 )

Ya think? Like the rest of the globe then.

zichi, sounds like you are in the best possible personal circumstances, each supporting the other, best of luck.

4 ( +5 / -1 )

@zichi

Wish you and your wife well mate.

3 ( +4 / -1 )

Mr Abe and his Olympics Dreamers waited tooo long to take the proper actions to slow the spread of this virus, up till mid march the virus was slowly spreading but the government continued to ignore this fact hoping to win the Olympics.

6 ( +6 / -0 )

BOJ says Japan's economy faces extremely high uncertainty on pandemic hit...And, Today Special!

Well, we citrizen have to bear the situation and please, I implore Mr, Abe keep your wife Akie-in-house or she will be the whole scandals again, her out active!

2 ( +2 / -0 )

But, Japan is such a rich country. (sarcasm)

0 ( +1 / -1 )

Great... just when Kuroda was being seen for the failure he is, he'll go on to proclaim himself a genius again and say "Wasn't me!"

0 ( +2 / -2 )

The article is mostly state-the-obvious stuff about right now, but looking forward, I think there will be another wave of bad even when the virus passes. My work comes from manufacturers and I'm lucky to very busy at the moment with pre-ordered work. I fully expect this to dry up, albeit later than the hit the virus is giving other businesses. There will be others in the same position, so that even when retail, travel, etc. are up and running again, they may well find their next problem is customers with tightening belts.

1 ( +1 / -0 )

Reckless says, "I think in a few months this will pass and the preparations for the Olympics will pull things up."

What planet are you from Reckless? Do you really think this thing is going away anytime soon? There is no cure and a vaccine could take more than a year to be approved.

By the time this is all over the Olympics will be just an afterthought. Every worldwide economy will be reeling and the last thing on people's minds will be the Olympics.

-10( +4 / -14 )

1 ( +1 / -0 )

Diseases don't spread, people spread diseases. People can't work sick. The boat has sailed.

0 ( +0 / -0 )

And people can’t buy food broke either....

0 ( +0 / -0 )

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