Nikkei’s 2017 rally heralds that Japan Inc. is back
Japan’s recovery has been driven by ultra-loose Bank of Japan policies and a buoyant global economy
Little is afoot in Tokyo to create the sustainable domestic demand-led growth that has eluded the Japanese economy for two-plus decades
The Nikkei’s 19% rally isn’t completely irrational. Companies are cash rich and underpinned by an economy enjoying its best run in 16 years, unemployment at 23-year lows and investment banks heralding that Japan Inc. is back.
The missing link, though, is wages. Average monthly cash earnings rose by just 0.6% in October, year-on-year. Worse, labor unions are lowering their ambitions for bigger gains in 2018.
This disconnect raises valid questions about whether Nikkei bulls ran ahead of economic fundamentals not just this year, but in the last few. Since Prime Minister Abe’s tenure began in December 2012, the Nikkei has gained an eye-popping 128%.
Tourism
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19 restrictions led to an 82% fall in arrival numbers.
After 18 months of travel restrictions, a number of countries in South-east Asia have begun opening their borders to foreign visitors to stoke recovery in their respective tourism industries.
(more…)Travel
Thailand dropped from UK’s tough covid-19 travel ‘red list’
Earlier, Thailand was listed among countries with high infection levels that were put on a ‘red list’, requiring arrivals to spend 10 days in a government-provided quarantine hotel, and must periodically have a PCR test or other tests.
From Monday, 11 October onward, fully vaccinated travelers from Thailand will not be subjected to Covid-19 quarantine, according to the latest announcement of the UK government.
(more…)
Can border reopening revive tourism in South-East Asia?
In Thailand, where pre-pandemic tourism accounted for 11-12% of GDP, the country lost an estimated $50bn last year as Covid-19...
Thailand dropped from UK’s tough covid-19 travel ‘red list’
Earlier, Thailand was listed among countries with high infection levels that were put on a ‘red list’, requiring arrivals to...
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