November 16, 2020

Andrew Campbell 

The Japanese economy in the quarter of July to September has shown a jump of 21.4% in the gross domestic product (GDP) compared to the previous quarter. The rebound also has revealed a turnaround in Japan's economy after its record postwar slump due to the COVID-19 pandemic.

Prime Minister Yoshihide Suga persists to support large government subsidies to keep workers in their jobs and companies in the business. In addition, his government put up efforts to stimulate the economy by encouraging consumers to spend more money, such as offering discounts for dining out and traveling. Prime Minister Suga insists it is not necessary to consider a new state of emergency of lockdowns and other tight measures while his government still wants to maintain high alert in vigilance about the COVID-19 pandemic.

However, there are dismaying threats drawn under the 2nd wave of COVID-19 pandemic recently. The number of new coronavirus infection cases hit a record peak at 1,722 on November 14 while newly confirmed infection cases have kept surpassing above 1,000 consecutively for the sixth day on November 15. The seeming resurgence of the pandemic will play a breath-breaking role in Japan’s future economy.

Photo:Webshot.