Japanese Economy: Yoshiki Shinke and Growth Phase

japanese economy: However, an increasing number of economists suspect that the latest growth phase, touted by the government as being the longest since the end of World War II, has ended, and that raising the tax from 8 percent to 10 percent would thrust the economy into recession by hurting household and business spending, according to The Japan Times. There is no doubt that the Japanese economy has been in stagnation, said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute, adding that the outlook has become uncertain mainly due to weak exports to China. Abe told the Diet on Friday that he would raise the tax as scheduled unless there is an event on a scale similar to the Lehman shock, a reference to one of the triggers of the 2008 global financial crisis. ; The government, meanwhile, stressed that the world's third-largest economy is recovering, defying market expectations that it would stop using the word in its latest monthly report amid weaker production and exports due to China's economic slowdown amid its ongoing trade war with the United States. The conflict between the United States and China, both major trading partners of Japan, is a source of serious concern for the country's business leaders. Kuniharu Nakamura, head of major trading house Sumitomo Corp., said this month that the trade row had affected supply chains, and could eventually hurt Japan. Shigenobu Nagamori, chairman of Nidec Corp., said earlier this year that the maker of electric motors saw extraordinary slides in demand and sales in China late last year. (news.financializer.com). As reported in the news.