Japan’s economy, the next Olympic host, shrank 4.8% during the 2020 COVID-scarred period, according to recent preliminary figures from the country’s Cabinet Office.
The final quarter results were also better than expected, with production increasing by 3% compared to the previous three months.
However, once again, emergency COVID containment policies are likely to constrain development in the current century.
The stop-start trend is characteristic of many national economies as they pursue an acceptable equilibrium between defending disadvantaged people and mitigating economic risk.
An annual contraction of just under 5% is expected to leave Japan among the mid-ranked nations for economy success in a humiliating and extremely stressful year.
Tokyo was scheduled to stage the second Summer Olympics and Paralympics in the third quarter of 2020 after a one-year postponement of the pandemic that came to control world affairs.
The Olympics are currently scheduled to run from July 23 to August 8, with the Paralympics expected to run from August 24 to September 5.
However, the occurrence of new cases of COVID-19 in the world has decreased dramatically since the first part of January to less than 2,000 a day.
In a further encouraging growth, vaccination of healthcare staff is set to begin this week following the acceptance of the BioNTech-Pfizer vaccine.
Source: Inside The Game Biz
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