- 27 Dec 2003
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"Japan's economy saw the steepest decline on record in its second quarter -- as the global health crisis took a big bite out of consumption and exports.
"It's putting the country's policymakers under pressure to take bolder action and prevent an even deeper recession.
"Japan is the world's third-largest economy behind the U.S. and China, and it shrank by nearly 28 percent from April to June... the biggest contraction in four decades.
"And it's wiped out all the gains from Prime Minister Shinzo Abe's "Abenomics" stimulus policies that began back in 2012.
Japan has already deployed massive stimulus policies to cushion the blow from the health crisis, which hurt an economy already reeling from a sales tax hike last year - and the U.S.-China trade war."
(cont.)
"It's putting the country's policymakers under pressure to take bolder action and prevent an even deeper recession.
"Japan is the world's third-largest economy behind the U.S. and China, and it shrank by nearly 28 percent from April to June... the biggest contraction in four decades.
"And it's wiped out all the gains from Prime Minister Shinzo Abe's "Abenomics" stimulus policies that began back in 2012.
Japan has already deployed massive stimulus policies to cushion the blow from the health crisis, which hurt an economy already reeling from a sales tax hike last year - and the U.S.-China trade war."
(cont.)
Japan suffers worst economic plunge in 40 years
Japan's economy saw the steepest decline on record in its second quarter -- as the global health crisis took a big bite out of consumption and exports. It's putting the country's policymakers under pressure to take bolder action and prevent an even deeper recession. Japan is the world's...
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