logo |

News

    Home   >     Industry    >     Main body

    Coronavirus could last years, says Japanese economist urging more tests, support

    Abstract:Japan should boost coronavirus testing and offer more generous cash payouts to households as the epidemic could last for several years, an economist appointed to a government panel on the virus response said on Friday. The

      TOKYO (Reuters) - Japan should boost coronavirus testing and offer more generous cash payouts to households as the epidemic could last for several years, an economist appointed to a government panel on the virus response said on Friday.

      The government can fund huge spending on the coronavirus by issuing more bonds, which the central bank can buy to avoid causing a rise in long-term interest rates, said Keiichiro Kobayashi, who was appointed on Tuesday to join a committee advising the government on measures to combat the pandemic.

      “It could take up to four years,” he said, referring to the time needed to develop and distribute an effective vaccine or medicine to combat the virus.

      Consumption will fall globally during that time, he said.

      That means stronger measures are needed to keep Japan's economy from suffering prolonged, deep stagnation including paying 100,000 yen ($934) a month for every citizen that suffered a sharp drop in income from the outbreak, Kobayashi told Reuters.

      The programme would cost the government up to 24 trillion yen, said Kobayashi, who is an economist at the private Tokyo Foundation for Policy Research.

      The most important thing is to alleviate public anxiety about the coronavirus and its fallout, he said.

      “It's necessary to take steps to make people feel safe by strengthening testing and isolation capabilities,” Kobayashi said.

      Kobayashi said he planned to share his proposals with Prime Minister Shinzo Abe and his cabinet.

      The government appointed several private-sector economists to the panel, which had consisted mostly of medical experts, as efforts to contain the virus put deeper strains on an economy already on the cusp of deep recession.

      Japan has reported nearly 16,000 coronavirus infections and over 650 deaths.

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.

    ×

    Select Country/Area