COVID-19 INFORMATION What you need to know about the coronavirus if you are living in Japan or planning a visit.
business

Abe says gov't ready to protect economy from coronavirus impact

45 Comments
By Leika Kihara

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© (Thomson Reuters 2020.

©2020 GPlusMedia Inc.

45 Comments
Login to comment

If Abe cannot protect the people then the economy will be-what size mask the economy?

6 ( +6 / -0 )

The virus outbreak will be a convenient scapegoat for Abe's failed economic recovery. Lucky boy!

18 ( +23 / -5 )

Abe said "We're therefore watching developments carefully."

Just watching ? The virus doesn't care about urging, or watching. You know better that you have to wipe it out.

-7 ( +5 / -12 )

Well I’m glad he’s written a letter to tell me I’m fine.

Im actually closed today due to this. I imagine you have some paper money printed sir, but if the Olympics are a bust, you know the ink will even run low.

Reality may be that all you can do is the best within your own nation, but it’s a global pandemic now. We just need to keep ourselves and our loved ones safe. The general public has the most to lose, and can not afford to lose their paychecks. If single income homes or people with children now suffer from closed schools, and hotel workers are laid off, you should compensate them! Not waste billions

5 ( +7 / -2 )

Thanks, Abe.

By the way, there's no toilet paper at any store in my town. Maybe we should deal with that?

13 ( +16 / -3 )

Just like in the past, when it is all said and done the Jgov will give every adult a 30k and tell people to spend it locally to help the small businesses. What a joke. A lot of people will be out of business of unemployed by then.

7 ( +8 / -1 )

Globally, the virus could cost more than $3 trillion.

4 ( +6 / -2 )

Abe said the government still had sufficient reserves to tap for emergency spending related to the coronavirus epidemic, signalling that he saw no immediate need to compile a fresh spending package.

"But I'm aware of views that if the virus spreads, it could have a huge impact on the economy," 

Translation: more money coming, especially for friends of Abe. Maybe if he spends enough, we won't need toilet paper - we can use 1000 yen notes.

10 ( +11 / -1 )

Globally, the virus could cost more than $3 trillion.

The Global Markets have lost $6 trillion plus due to this hysterics.

7 ( +7 / -0 )

I hope that Abe realizes that just printing money isn’t the solution for this.

5 ( +5 / -0 )

As usual, he never talks in specifics.

A complete and utter charlatan.

8 ( +9 / -1 )

I hope that Abe is including the people in his preparations. They seem to only keep giving money to businesses.

5 ( +5 / -0 )

Protect the economy? Does that include paying me for the next two weeks of work that I’m now not getting paid for because of this ridiculous school closure?

3 ( +4 / -1 )

Of course it is...

2 ( +2 / -0 )

Goodbye Olympics!

1 ( +2 / -1 )

Watching, urging, take a nap during work, maybe printing some more money for my crony friends. Have a couple of dinners and parties the media. The hard workday of a leader.

3 ( +4 / -1 )

All the Western nations printed a lot following the crisis,and have not seen any increase in inflation actually.

There is plenty of inflation. Just not the kind measured by the CPI. Massive asset bubbles instead.

3 ( +3 / -0 )

So much negativity on every article of Japan Today. People seem to have more knowledge than the person responsible for this. Pretty sure non of you can do better than any leader in the world.

-12 ( +1 / -13 )

the government still had sufficient reserves

And 1.1 quadrillion of public debt already, so yeah...

This coronavirus episode is another story but Japan always has natural disasters. It should be running budget surpluses to save for those rainy days.

5 ( +5 / -0 )

The Italian government decided to cut taxes and bills for 2 months for the people living in the area that is quarantined and can’t work.

Why this Abe and his cronies make such rules to protect all the citizens that will partially or complete lose job for a month?

So many urges,so many words and in the end the common people in Japan always suffer.

A very poor leadership.

5 ( +6 / -1 )

Can we back track from the beginning of the C19 crisis?

Can anybody with a straight face tell me PM and his government do a decent job?

Anybody? just one? somebody?

Seriously, if you look back at leaders who standout during some sort of crisis in their country or the world,

they all had to make hard choices, unpopular choices, but they always put their people first, it was not politically motive or economic gains. I am just saying compare those with the current Japanese government , what is the difference?

4 ( +4 / -0 )

The govt hasn't been able to get the economy out of the tank for the past 25 years - what exactly is being proposed now, when most companies' supply lines and markets are directly tied to the most affected countries, there is falling domestic demand, and interest rates are so close to zero that cuts would be impossible? Invalid CSRF

4 ( +4 / -0 )

expatToday  10:12 am JST

The govt hasn't been able to get the economy out of the tank for the past 25 years

I don't think that's ever really been the intention. Lots of small, weak companies that are reliant on government bail-outs means grateful owners who will repay the largesse of their local LDP good ol' boys with their support in elections. Keeping them weak is good politics, LDP-style.

4 ( +4 / -0 )

A system that most of the world should try adopting is the Singaporean system. They have included as part of their national budget money set aside for people and businesses to keep the economy afloat for a period of up to 6 months in the event something happens that requires full stoppage. So families are able to continue paying their bills.

1 ( +1 / -0 )

JJ JetplaneToday  09:02 am JST

I hope that Abe is including the people in his preparations. They seem to only keep giving money to businesses.

There's no guarantee that the people will show their gratitude by giving Abe what he wants most on election day. Much more mutually beneficial arrangements can be made with business owners.

1 ( +1 / -0 )

Abe is doing a good job.

-6 ( +0 / -6 )

Insincere promise from a weak leader.

He was too weak and caved to pressure from China. How can he protect the economy from himself?

0 ( +0 / -0 )

This sounds like more money printing for compensation for lost business. The money will be handed out to those who understand and manipulate the rules for its distribution and the well-connected, not necessarily the most deserving. A certain amount may be thrown out indiscriminately to help "households" or something.

0 ( +0 / -0 )

@Simon Foston

There's no guarantee that the people will show their gratitude by giving Abe what he wants most on election day. 

Einstein once said insanity is doing the same thing over and over again while expecting different results. Abe keeps giving companies money in hopes of increasing consumer spending but it has only had the opposite effect. Eventually, you have to try a different method.

3 ( +4 / -1 )

I'm waiting to see how. Good political slogan but how can he?

0 ( +0 / -0 )

19th arrow?

4 ( +4 / -0 )

A Universal Basic Income to keep people afloat above the poverty line would go a long way to deal with ongoing crisis this year in Japan

-1 ( +1 / -2 )

@sf2k

A Universal Basic Income to keep people afloat above the poverty line would go along way to deal with ongoing crisis this year in Japan

Many countries have tried universal basic income. They largely stay away from it. The main reason is that while it has been successful in eliminating poverty, it destroys that picture perfect family. When universal income tests have been used in economies around the world. Women tend become more independent and divorce rates increase.

0 ( +0 / -0 )

@JJ Jetplane

Many countries have tried universal basic income. They largely stay away from it. The main reason is that while it has been successful in eliminating poverty, it destroys that picture perfect family. When universal income tests have been used in economies around the world. Women tend become more independent and divorce rates increase.

Can't tell if you're making a joke or not.

1 ( +1 / -0 )

Finland tried a trial of universal basic income to a small group of people for two years. The lives of those involved improved during the trial. Nothing about divorce increases?

Universal basic income will be a must before 2050.

0 ( +0 / -0 )

Many countries have tried universal basic income. They largely stay away from it. The main reason is that while it has been successful in eliminating poverty, it destroys that picture perfect family. When universal income tests have been used in economies around the world. Women tend become more independent and divorce rates increase.

Even if that's true, are we supposed to sign off on not approving an idea on the grounds disapproval will make women be more needy on men and forcing them to stay in meritless relationships because they need to eat?

3 ( +3 / -0 )

savethegaijinToday 07:27 am JST

Thanks, Abe.

By the way, there's no toilet paper at any store in my town. Maybe we should deal with that?

Plan B - use a newspaper, read then wipe lol

2 ( +2 / -0 )

I hope they do a better job of protecting the economy than they have protecting the citizens of this country. We just had our first confirmed cause of Coronavirus in this prefecture. It was someone who was released from quarantine on the Diamond Princess. I have serious doubts putting my faith in the government to be able to protect anything after that fiasco.

2 ( +2 / -0 )

"We need to first look at how serious the impact from the outbreak would be," he told reporters on Thursday.

Was this ignoramus living in a cave or what ? This virus has been wrecking havoc in Japan and across the globe and he still doesn't understand the seriousness.

A classic example of someone living out of touch.

I am a journalist, no matter who he is makes such a statement would regret coming across me.

A lot of respect is given to people who don't merit it just because of their age or position.

0 ( +0 / -0 )

@savethegaijin

Can't tell if you're making a joke or not.

I am not kidding. One good book that I referenced during my masters thesis Poverty and Discrimination by Kevin Lang.

0 ( +0 / -0 )

JJ JetplaneToday  12:06 pm JST

@Simon Foston

Abe keeps giving companies money in hopes of increasing consumer spending but it has only had the opposite effect.

Actually I don't think it matters all that much to Abe and his LDP associates what effect it has. He talks a good fight about virtuous cycles and so forth but I think his only real aim is to bribe the LDP base in politically important areas, i.e. over-represented rural constituencies like... Well, his own one in Yamaguchi. I'm pretty sure that the only thing that does matter to the LDP is staying in power and cementing their place in a semi-feudal oligarchy.

0 ( +0 / -0 )

@JJ Jetplane

So you're saying that women becoming independent and being financially empowered enough to leave a toxic marriage.......... is bad?

0 ( +0 / -0 )

@savethegaijin

I don't think it's bad. But countries do. America in the 60's when they tried that experiment for 1 year in a small town thought it was a bad sign. That's why they axed the program.

2 ( +2 / -0 )

How ???when they cannot even take care of more than 4 patients in hospitals outside of Tokyo ???.

0 ( +0 / -0 )

@JJ Jetplane

So then you're in favor of a UBI?

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites