G20 starts tonight Discussions on the impact of the new virus on the global economy

G20 starts tonight Discussion on the impact of the new virus on the world economy February 5 at 12:12

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G20 = The meeting of the Finance Ministers and Central Bank Governors of the 20 major countries will begin in Saudi Arabia on the 22nd of Japan time. Discussions are expected to be held on the impact of the spread of the new coronavirus on the global economy, and on the measures taken by each country to support the economy.

The meeting will begin in Riyadh, the capital of Saudi Arabia, on the evening of January 22, Japan time, and will be attended by Japan's Deputy Prime Minister and Minister of Finance Aso and the Bank of Japan's Governor Kuroda.

This is the first meeting of G20 ministers since the outbreak of the new coronavirus has spread, and its impact on the global economy will be the main agenda.

The decline in Chinese tourists is hitting the tourism industry in each country, and the supply of parts and raw materials from China has been delayed, affecting production activities, and there is a growing view that the global economy will be depressed. You.

It is expected that the meeting will share these concerns and discuss measures to support the economy.

With concerns about Japan, where the number of infected people is increasing overseas, Minister Aso has decided to explain Japan's measures to prevent the spread of infection.

At the meeting, countries will also discuss new tax rules for large IT companies that make profits by exchanging data across borders, and "digital currencies" for which the Bank of Japan has begun research with the European Central Bank. It has become.

Deputy Prime Minister Aso and Finance Minister to explain measures against viruses in Japan

Before the G20 Finance Ministers and Central Bank Governors' Meeting commenced, Deputy Prime Minister and Minister of Finance Aso told reporters after a Cabinet meeting on March 21 that "now, as one of the various risks to the world economy, the new Corona. There is a virus, and it is expected that this effect will be discussed at the G20. We have to say that we are working properly on Japan's response. " I showed the idea.

The Bank of Japan's governor, Kuroda, told the Finance and Finance Committee of the lower house on Tuesday that the spread of the new coronavirus on the Japanese economy will affect the Japanese economy. You need to be well aware. "
Mr. Kuroda said, "There is uncertainty about the future of the Japanese economy. We will pay close attention to the risks and carefully check for downside risks." Emphasis on posture.

New virus spreads Great risk to global economy

The spread of the new coronavirus is recognized as a major risk to the future global economy.

In China, human movements and corporate activities were restricted to limit the spread of infection.

According to Chinese private think tanks, it is estimated that losses in industries such as retail, eating and drinking and travel in China will be more than RMB 1 trillion and more than 16 trillion yen in Japanese yen during the Chinese New Year holiday alone. You.

Furthermore, China's GDP growth from January to March is expected to fall sharply from 6% in the previous three months to 4%.

The impact is not limited to China's domestic economy. China is the world's second largest economy after the United States, and there is concern that stagnation in China's economy could lead to a slowdown in the world economy.

Cancellations for Chinese travelers who were planning to visit Japan on a group trip could be at least 400,000 by the end of next month.

As Chinese tourists, which have been increasing sales at department stores and other stores, are decreasing, duty-free Laox has decided to apply for voluntary retirement due to concerns over worsening business performance.

In addition, Nissan Motor Corp.'s plant in Fukuoka Prefecture has temporarily stopped production, which is starting to affect the production of companies that procure parts and materials from China.

For this reason, some estimates indicate that Japan's GDP growth rate from January to March could be reduced by around 0.4%.

In addition, in the United States, the number of "iPhone" produced by IT giant Apple in China is decreasing, so that the sales for three months from January to March cannot achieve the initial forecast. It has been announced.

The impact on the world economy is expected to become even more severe as the consequences begin to affect countries around the world and prolong the situation.