Japan is facing repeated natural disaster. After one disaster, the purchasing power of the people is decreasing, the export is being obstructed. It’s shrinking in the economy of the country.
Government statistics show that in the third quarter of the year (July-September), Japan’s economy shrunk by 1.2 percent. This year, the horrific earthquake and the devastating cyclone hit the country. It has more narrowed economy than the foreclosure. The United States and China’s trade war is blowing in the middle of this recession. World trade, which has negative impact on the economy of Japanese economy, is also facing the consequences of counterfeit taxation between the two countries.
Earlier, a survey of economists at the Reuters news agency predicted that in the third quarter, Japan’s economy would shrink by 1 percent. But this year, Japan has faced several natural disasters. Meanwhile, heavy floods and landslides, earthquakes, and devastating cyclones caused heavy rains and losses in western Japan. Industrial disasters have been damaged in these calamities, the country’s demand has decreased.
Besides, the United States and China are heavily influenced by the world’s supply chain in the supply chain. Analysts say the world has created a uncertainty about trade war. The economy of Japan and other Asian economies has slowed down