Japanese economy slows to a near-halt as trade tensions pile
Japan’s economy slowed to a near-halt in the third quarter. This was due to the continous fall of exports amid trade tensions whilst a shopping splurge before a sales tax increase ran down stockpiles of goods.
Prime Minister Shinzo Abe has been mulling over the size of an economic stimulus package to shield Japan’s economy from the global recession and the tax impact hike.
Abe ordered the stimulus measures last week after Japan’s economy showed signs of losing momentum. The hit from soft global demand within the U.S.-China trade war, the tensions with Korea, and natural disasters such as Typhoon Hagibis factored in putting growth in a vulnerable spot.