AP News: Japan Stimulus:

https://www.yahoo.com/news/japan-unveils-4-billion-package-131942057.html

Article:

TOKYO (AP) — A task force set up by Japan's Prime Minister Shinzo Abe on Tuesday approved a 430 billion yen ($4.1 billion) package that includes support for small to medium-size businesses hit by the coronavirus outbreak, amid criticisms over his handling of the crisis.

Among other relief, the package also includes subsidies for parents who need to take time off work due to school closures, funding for development of virus vaccines and test kits and for extra production of protective masks, banning of their resale.

Comments and Ideas:

The economic package seems to be, of course, a case of being somewhat political, in that Abe was somewhat under pressure to do something. Not to defend, but in a situation like this, even with the cruise ship, its still trial and error.

While the economic package looks encouraging, not to say too little too late, but many of the small and medium sized businesses may not fully recover and or be able to go back to business as usual if the tourist don't return soon enough. Just how long with the economic package last or help; six months, one year, and then what?

Article:

Abe kept in place a government request for the public and organizers to cancel, postpone and scale down events for 10 more days to help reduce the risks of the virus spreading further.

The plan also includes support for hospitals to prepare for a potential surge in the number of patients in coming weeks. A worst-case scenario estimate by the health ministry showed 20,000 people could be hospitalized and 45,000 outpatients might require treatment per day.

As in many other major economies, small and medium-sized businesses provide most jobs and are suffering the greatest impact from a sharp decline in tourism, travel and other spending as Japanese heed calls to stay home to minimize the risk of spreading or catching the virus. Contract workers and others who don't get paid time off also are vulnerable to losing their livelihoods.

Comments and Ideas:

Of course the reduction or reduced number of events, everywhere in the world is going to limit economic activity and greatly impact all economies, not just Japan. Maybe the hospital situation is one area that Japan could have improved on much earlier than it has.

South Korea, for example, can test over 10,000 citizens per day because it has the needed test kits. I wonder about Japan? But to be fair, the area in South Korea, where most of the cases are, they ran out of hospital beds. Lets hope Japan can provide enough hospital beds as needed for the situation.

Its not just International tourism that is down of course, but domestic tourism is down to with the idea of "keeping ones distance" from others, yes keep safe, as greatly reduced domestic activity in the Japanese economy.  Many business are not being severely challenged if this continues.

Article:

The government said it plans to provide 1.6 trillion yen ($15 billion) in interest-free, no collateral loans to help such companies manage during the crisis.

For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.

The vast majority of people recover from the new virus. According to the World Health Organization, people with mild illness recover in about two weeks, while those with more severe illness may take three to six weeks to recover.

As part of Japan's measures, Abe said Japan will ban entry of foreign visitors from San Marino in northern Italy and some parts of Iran beginning Wednesday, citing a sharp increase of confirmed cases in the areas. Japan also has restricted entry from China and South Korea.

Japan's Cabinet on Tuesday also approved a proposal for legislation that will allow Abe to declare a state of emergency when necessary. Passage of that measure, which opponents say might infringe on civil liberties, is expected later this week.

As of Tuesday, Japan had more than 1,200 cases with 17 deaths.

Comments and Ideas:

The idea of 1.6 trillion yen is very much needed, but how long will it last and or how much will it help. If the tourists, both international and domestic and regular domestic economic activity doesn't return in a needed time-frame, how much will the 1.6 trillion yen really help?

The idea of banning certain groups, maybe should have been done much earlier. Of course that is easier said than done, and most of what has happened has only been in the last two weeks, except for China of course.

How much will a "state of emergency" help and or what does it really mean, it terms of movement etc. that citizens are not already doing. It seems or appears, that the movement of people/citizens has already be greatly reduced, other than saying everyone can't go out, except for emergency situations, and or what China as done to lock down it country.

Of course whatever is needed to protect everyone.

And of course the Tokyo Olympics is a large part of the thinking in all of this too.

© 2020, Tom Metts, all rights reserved