Young people hit more by Japan inflation, "excess" savings no savior: gov't

Feb 04 (Kyodo) - Rising prices are hurting Japanese consumers, especially young people, and around 64 trillion yen ($498 billion) in excess savings accumulated over the COVID-19 pandemic years have done little to support consumption, the Cabinet Office said Friday.

The recent bout of inflation, accelerating twice as fast as the Bank of Japan's 2 percent target, is largely due to higher costs, the office said in its annual economic report, adding that the time is not ripe to change accommodative monetary policy as support from robust wage growth is still lacking.

Inflation at home and recession fears about the global economy are casting a pall over the world's third-largest economy, which unexpectedly shrank in the July-September quarter of 2022.

Student's Homemade Bomb Sparks School Lockdown in Sapporo

A suspicious object feared to be explosive was discovered at a high school in Sapporo on the afternoon of November 22nd, causing temporary chaos. The object was found to have been brought to the school by one of its students.

China to resume visa-exemptions for short-term Japanese travelers

China says it will resume allowing visa-free visits by Japanese nationals on short-term trips from the end of this month. (NHK)

Japan Grapples with Poverty and Rising 'Invisible Homeless'

Japan is facing a deepening crisis of poverty and inequality, with rising reports of 'invisible homeless' individuals and growing economic hardships among the population. Discussions over reforms to the country's tax and welfare systems have taken center stage, as policymakers grapple with how to provide meaningful support.

Ueno Toshogu Shrine Shines in Gold with Special Lighting

A special lighting ceremony was held on November 20th at Ueno Toshogu Shrine, located in Ueno Park, Taito Ward, Tokyo. The event featured a unique lighting design created by renowned lighting designer Motoko Ishii.

World's First Fiber Made From Bagworm Silk Revolutionizes Industry

A Japanese pharmaceutical company has announced the successful commercialization of fiber made from silk produced by bagworms.

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Elon Musk Highlights Japanese 'Wabi-Sabi' in Social Media Post

Elon Musk, the incoming head of the newly established Efficiency Ministry under President-elect Trump, has vowed to reduce $500 billion in government waste annually. Musk, known for his admiration of Japanese culture, sparked speculation on October 21st with a social media post simply stating "Wabi-Sabi" in Japanese, prompting questions about his intentions.

Japan's Agriculture Ministry Urges Nationwide Action to Combat Avian Flu

The Ministry of Agriculture, Forestry, and Fisheries held an emergency meeting to address the rapid outbreak of avian influenza, urging prefectural governments to strengthen hygiene management measures.

Ishiba vows to enhance cooperation with China, others after summits

Japan's Prime Minister Ishiba Shigeru has expressed his eagerness to develop cooperation with China and other nations after a series of summit meetings in South America. (NHK)

Japan, Canada to Establish Economic '2+2' Framework for EV Cooperation

Prime Minister Ishiba, attending the G20 summit in Brazil, held talks on November 18th with UK Prime Minister Starmer, where they agreed to establish an economic "2+2" framework involving foreign and economic ministers.

China Awarded Hosting Rights for the 2026 APEC Summit

The 2024 Asia-Pacific Economic Cooperation (APEC) Summit successfully concluded in November in Lima, Peru. During this meeting, which brought together leaders from 21 member economies, in-depth discussions were held on topics such as regional economic integration, global trade, and sustainable development.

Trump's Victory: The End of Traditional Media in America?

"Harris is merely the runner-up; her media 'cheerleaders' are licking their wounds and will take longer to recover. After all, they were the ones who worked hardest to bring down Trump—yet, after eight years of effort, they’re weaker and more embarrassed than ever before," wrote Elle Purnell, an editor at The Federalist and one of the few traditional media figures who staunchly support Trump.

Middle East tensions are a crude awakening for Japan’s energy security strategy

Geopolitical risks in the Middle East have rapidly escalated since the October 2023 attack on Israel by Hamas. In addition to Israel’s bombardment of Gaza, a regional war has grown likelier due to Iran–Israel tensions. This poses serious concerns for Japan’s energy security, which depends on Middle Eastern oil supply. (East Asia Forum)

Hyogo Governor Secures Re-Election

Former Hyogo Governor Motohiko Saito has secured re-election following the gubernatorial election triggered by his resignation.

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