Will Japan's economy buckle under the coronavirus outbreak?
Last week, the Chinese Lunar New Year period wrapped up with hopes that business would return to normal operations amid an outbreak of a novel strain of coronavirus (COVID-19) that has sickened nearly 60,000 in China. But in Japan manufacturers are struggling to secure parts and normalize production lines as Chinese factories delay reopening after the holidays.
As the epidemic drags on and inbound visitors vanish, Japanese department stores, as well as the aviation and tourism sectors, are feeling the pinch from a slump in sales.
The Lunar New Year is a peak travel period, with 1.4 million Chinese tourists travelling to Japan between February and March last year. Chinese nationals make up 30 percent of all Japan's inbound tourists and over the years sightseeing spots, retail outlets, and restaurants have...
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