Economic outlook for Japan
Japan was spared a large Covid-19 outbreak, but the virus’ economic impact will be significant. The country can no longer count on the 2020 Summer Olympics to stimulate its economy. There are concerns over another ‘lost decade’ of economic stagnation, like in the 1990s. Yoshiki Takeuchi, Japan’s vice finance minister for international affairs, joins Mark Sobel, US chairman of OMFIF, to discuss how this crisis differs from the events of 2008, the current and future policy responses needed to mitigate the global recession, and the structural challenges that the Japanese economy may face.