business

Japan's exports fall; imports from China slump as virus impact widens

19 Comments
By Daniel Leussink

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© Thomson Reuters 2020.

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19 Comments
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Time to impose another round of export ban on Korea, perhaps? Cuz the last one really boosted the Japanese economy!

-1 ( +11 / -12 )

Ban on Korea was a bad move!

Things are just not working out for Abe, are they?

I hope that Japan gets a better leader.

-2 ( +10 / -12 )

At this moment the country needs a strong and dynamic leader.

5 ( +5 / -0 )

Exports will further slump as most economies in the world are implementing shutdowns. Japan seems to be the only country trying to avoid shutting down anything other than school.

6 ( +6 / -0 )

The Japanese economy doesn't rely on international trade. Most goods and services are domestically produced and consumed within the country.

1 ( +7 / -6 )

The Japanese economy doesn't rely on international trade. Most goods and services are domestically produced and consumed within the country.

Yup, because it is well known that Japan produce its own fuel and doesn't need to export the cars it manufactures. Economy's going down worldwide but, sure, Japan will be ok.

3 ( +7 / -4 )

The Japanese economy doesn't rely on international trade

say what!? Japan doesnt even produce half the food to feed its population most of it is imported,

Japan has to import all its oil and raw materials to manufacturer its goods.

7 ( +9 / -2 )

Japanese food security is less than 60%.

Japan imports all its energy and the world's largest importer of coal and gas.

4 ( +7 / -3 )

“Japan imports all its energy and (is) the world’s largest importer of coal and gas.”

More dodgy stats easily disproved by a brief online check. China imports nearly double the amount of coal and Japan only lead briefly in LNG imports, largely because of the nuclear shutdown after Fukushima. For total gas imports Germany, with 40 million fewer people and due to phasing out nuclear, imports more than Japan, whose gas needs will come down as mothballed nuclear reactors restart. The Chinese behemoth is set to eclipse both.

https://www.forbes.com/sites/judeclemente/2019/10/17/china-is-the-worlds-largest-oil--gas-importer/#1c1241d54413

0 ( +2 / -2 )

The Japanese economy doesn't rely on international trade. Most goods and services are domestically produced and consumed within the country.

Walk into Daiso, and check how many things are made in Japan and how many are made in China or another country.

Or any other store for that matter.

5 ( +6 / -1 )

The Japanese economy doesn't rely on international trade. Most goods and services are domestically produced and consumed within the country.

I think what he meant to say was that the Japanese economy doesn't have to rely on the global trade if NEED BE. Japanese people are frugal by nature and don't require much to live. Should things turn for the worse, Japan is ready and willing to cope with anything being thrown at. All they have to do is to trust the government and follow their lead in difficult times.

-2 ( +2 / -4 )

Time to impose another round of export ban on Korea, perhaps? Cuz the last one really boosted the Japanese economy!

and

Ban on Korea was a bad move!

I guess you did not read the first paragraph on the article. Which states:

Japan's imports from China fell at their fastest pace in three decades in February, as the coronavirus ground factory production in Asia's largest economy to a halt and damaged wider demand across the region( including South Korea)

1 ( +2 / -1 )

At this moment the country needs a strong and dynamic leader.

Japan does. His name is Abe Shinzo.

-6 ( +1 / -7 )

Please stop talking about China, WHAT abt exports to america to E.U ???.and imports from america & E.U ???.

China was always critized by japanese and asia was always looked down upon what does it matter to japan if imports or exports fall from these counries ???.

-4 ( +1 / -5 )

At this moment the country needs a strong and dynamic leader.

Japan does. His name is Abe Shinzo.

hear! hear!

-1 ( +2 / -3 )

China was always critized by japanese and asia was always looked down upon what does it matter to japan if imports or exports fall from these counries ???

Because they started the Wuhan virus. Lied about it, arrested a brave doctor who revealed the truth about it and kept it hidden from the rest of the world for months before it was too late to stop the virus from spreading.

-1 ( +1 / -2 )

Jeff Ko

I think what he meant to say was that the Japanese economy doesn't have to rely on the global trade if NEED BE. Japanese people are frugal by nature and don't require much to live. Should things turn for the worse, Japan is ready and willing to cope with anything being thrown at.

WELL SAID, Sir!

The Japanese may look meek and polite but they have a hardy, "Never Give Up" attitude, especially when things are bad. They always survive and thrive.

-3 ( +1 / -4 )

@wtfjapan

say what!? Japan doesnt even produce half the food to feed its population most of it is imported,

Japan has to import all its oil and raw materials to manufacturer its goods.

On balance accounts, Japan's trade has constituted 10-15% of the entire GDP. The country's economy is not export-driven (even though once a rising inbound tourism as an "export" is also counted.). So I think it's rather misguiding to keep the Japan yen cheaper relative to other major currencies in favor of export businesses.

I didn't discuss the issue of self-sufficiency and key import materials. There are backups and response mechanism in case of contingencies in overseas markets. Oil and energy resources are stored sufficiently to survive for half a year without any single import (besides, procurement places are diverse in order to minimize risks).

-1 ( +0 / -1 )

At this moment the country needs a strong and dynamic leader.

Japan does. His name is Abe Shinzo.

I can't wait for him to become either, instead of 'corrupt' and 'unimaginative'.

Japanese people are frugal by nature and don't require much to live.

Japanese people require lots and lots to live. 120m people can't survive on mountain veg and boar.

The Japanese may look meek and polite but they have a hardy, "Never Give Up" attitude, especially when things are bad. They always survive and thrive.

Every country in the world thinks the same about it's own people, and it is true. Wake up and get a proper leader, this one has had 8 years to prove himself and has failed.

1 ( +1 / -0 )

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