After WEF pulls Singapore meeting, time for Japan to read writing on the wall

Who would not feel sorry for Japan. For years it spent a good part of its public diplomacy budget on wooing tourists and business from China, with laudable success. Now, a virus that was first identified in China, and associated mutants initially spotted in Britain, South Africa, Brazil, and most recently India, are prolonging the spread and have laid low its economy.

First quarter growth numbers published on Tuesday are dismal. The economy shrank an annualised 5.1 per cent from the prior quarter in the three months through March, ending a two-quarter streak of double-digit growth. That’s worse than expected; economists had forecast a 4.5 per cent contraction.

Please subscribe or log in to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

Source: Read Full Article