China News Service, November 23, reported that Japan's Prime Minister Fumio Kishida recently launched a new round of economic stimulus plan to revive people's livelihood and the economy.
Among them, the huge supplementary budget has attracted attention from all walks of life.
Singapore’s "Lianhe Zaobao" published an editorial that pointed out that if the economic recovery plan proves to be of no use, and the "new capitalist" economic card proposed by Kishida is also unplayable, his path of resignation may not be possible. old.
Data map: Fumio Kishida.
Still need government support
Japan's economy is showing signs of fatigue
According to reports, on March 26, local time, the Senate of the Japanese Diet approved the fiscal year 2021 budget until the end of March 2022, with a total of 106.6 trillion yen (approximately RMB 6 trillion), a new high for the budget.
On November 19, the Japanese government announced a new round of economic stimulus plan. The fiscal expenditure reached 55.7 trillion yen (about 3 trillion yuan). If private investment and other parts are included, the scale will reach 789,000. Billion yen.
More than 2020 economic response measures in response to the new crown epidemic.
In response, Singapore’s "Lianhe Zaobao" published an editorial saying that this highlights Japan’s weak economic status, and more than a year later, it still needs strong government assistance.
The analysis pointed out that as the world’s third largest economy, Japan’s economic rebound is obviously not good. Due to the severe economic situation, Japanese Prime Minister Fumio Kishida launched a supplementary budget shortly after he took office. Most of the economic stimulus plans require financial resources. It will also be raised through the issuance of new treasury bonds. Japan’s fiscal deficit has been disturbing. If the issuance of treasury bonds continues to make up for it, the fiscal situation may deteriorate further.
Data map: The picture shows a truck equipped with a screen on preventive measures against the new crown pneumonia virus passing through the Shibuya intersection in Tokyo.
Take huge supporting measures
Determined to boost the Japanese economy
The Kishida government proposed that to achieve a "virtuous cycle of growth and distribution," its ultimate goal is to revitalize the economy. Therefore, it must take all measures to provide financial assistance to citizens and companies affected by the new crown epidemic.
According to Kyodo News, the economic strategy consists of four parts. The first is to prevent the spread of the new crown epidemic; the second is to restart social and economic activities and prepare for the next Capitalism”; finally mentioned measures to strengthen the prevention and mitigation of large-scale disasters, and the policy of enhancing defense capabilities.
The report pointed out that the new crown epidemic has had a great impact on the Japanese economy, and Kishida also admitted that only the introduction of such huge supporting measures can rebuild the people's confidence and promote the economy to enter a virtuous circle.
Kishida also emphasized that before tightening the buckle of the purse, the economy must first be pushed onto the track of growth.
Data map: On August 16, local time, Tokyo Dome Stadium in Japan became the new crown vaccination center, and people came to get vaccinated in an orderly manner.
Previously, it was the home stadium of the Yomiuri Giants in Japan's professional baseball field, and many concerts by famous singers and groups have been held.
Other issues are becoming more prominent
How far can the Prime Minister's road go?
The report pointed out that the new crown epidemic has led to weak domestic and foreign demand in the Japanese economy, and the shortage of semiconductor chips has also exposed the fragility of Japan's supply chain.
Although the impact of these aspects will be reduced after the epidemic, Japan must boost the competitiveness of companies that have been declining in recent years, and overcome the plight of technological innovation and technological innovation that cannot keep up with other countries.
In addition, Japan is also facing other social structural problems, such as an aging population and a shortage of labor caused by declining birthrates.
Since the 1990s, Japan has been suffering from a low fertility rate. The latest data show that Japan’s population will drop by more than 530,000 in 2020, and the fertility rate will drop to 1.34.
According to reports, in order to fill the gap in the labor force, Japan recently announced that it intends to relax regulations on the entry of foreign workers in specific fields in 2022, and some employees may stay in Japan indefinitely.
A major change in Japan's foreign labor policy is basically to cooperate with the new round of economic stimulus plan, especially to avoid the deterioration of labor shortage after the gradual recovery of economic activities.
However, the report pointed out that looking back at the economic stimulus measures introduced in 2020, the huge amount of funding was not used properly in the end, resulting in few results.
If this countermeasure does not work, the outlook for the Japanese economy will be worrying.
As for Kishida, if the revival plan proves to be of no use, and the "new capitalist" economic card is also unplayable, then the road of his will probably not go far.
The approval rating of the Japanese cabinet also has an impact on the path of its prime minister.
On November 10, Kishida again assumed the post of Prime Minister of Japan, and then the "Nihon Keizai Shimbun" conducted an emergency poll.
The results showed that the approval rate of the Kishida cabinet was 61%, which was basically the same as the 59% of the previous survey in early October.
However, according to a poll conducted by the Japan Broadcasting Association (NHK), the approval rate of former Prime Minister Yoshihide Suga in September 2020 when he formed the cabinet was 62%, and it fell to 29% at the lowest point. Therefore, whether Kishida can stabilize the cabinet approval rate Still a big question mark.