The economic effect of the Tokyo Olympics is limited Japan intends to throw 40 trillion yen to stimulate the economy

China News Network, November 16, comprehensive report, a few days ago, the Japanese Cabinet Office released data showing that although the Tokyo Olympic Games were successfully held, almost all the competition venues were forbidden to enter, and the economic effect brought by it was limited. The analysis said that in the face of the strong offensive of the new crown epidemic, Japan will launch an economic stimulus plan with a scale of more than 40 trillion yen (about 2 trillion yuan).

Infographic: Japanese people walking on the street.

According to reports, data released by the Cabinet Office of Japan shows that in the third quarter of 2021, Japan's gross domestic product (GDP) express value decreased by 0.8% month-on-month and 3.0% on an annualized basis adjusted for seasonal factors. Negative growth after one quarter.

According to the Nihon Keizai Shimbun, this highlights the fragility of the resilience of the Japanese economy and its inability to keep up with the pace of recovery in Europe and the United States.

According to the report, the Tokyo Olympics held in August were unable to stimulate the tourism, hotel and retail industries due to the implementation of no-spectator measures.

In addition, according to Japan's "Yomiuri Shimbun", due to the long-term impact of the new crown epidemic, Japan's personal consumption continues to be sluggish, and the export situation is also worrying. The Tokyo Metropolitan Government and Osaka Prefecture in Japan have also been affected by the epidemic and have issued several declarations of emergency, resulting in a continuous downturn in the service industry such as catering and hotels.

The analysis said that the economic data is far less than expected, which is a major test for the Kishida government that has just come to power.

The report pointed out that in the face of the 2022 Senate election, Japanese Prime Minister Kishida Fumio is eager to make political achievements, in addition to issuing subsidies to the public, he also said that he will continue to support small and medium-sized enterprises.

Kishida previously said that it plans to issue an epidemic subsidy equivalent to 100,000 yen (about 5,500 yuan) to people aged 18 and under.

Source: China News Network