Japan was more successful than the US and Europe at containing Covid-19. Will its economic performance compare favourably as well?
The coronavirus pandemic is an unprecedented global challenge with profound social, economic and political consequences. Nearly three months from the WHO declaring a global pandemic, it is increasingly clear that the outcome in terms of both public health and economic performance will vary greatly by country. Alongside other countries in Asia, Japan has been amongst the most successful at limiting the public health impact of the pandemic. While Japan’s interconnected economy cannot escape the damage from the current global recession, we expect Japan’s economic downturn to be shallower than in many developed countries. The recovery will be supported in the near term by domestic consumption, with the external sector making a more significant contribution later in 2020 and in 2021.
pdf Asset Management One Thought Leadership June 2020 (1.18 MB)