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Olympics delay serves as further heavy blow to Japan's economy

Mar 25, 2020 - City A.M.

JAPAN's decision to postpone the Olympics, formally announced by Prime Minister Shinzo Abe yesterday, will deal a heavy blow that is almost certain to push Japan's persistently weak economy into recession, economists have warned.

Abe, who has tried to revitalise growth through a mix of massive monetary easing, governance reforms and tourism, the coronavirus outbreak has unravelled what was supposed to have been a triumphant Olympic year.

JP Morgan estimates that postponing the Olympi...