As the Lunar New Year approaches, China and Japan are gearing up for a potential increase in consumer spending. With the Chinese government extending the holiday to stimulate spending in a slowing economy, and Japan’s tourism and retail industries optimistic due to a weaker yen, there is hope for economic uplift. However, challenges such as China’s job market woes and Japan’s severe labor shortage may impact the extent of this spending spree.
- SoftBank Group to announce earnings for October to December period with a significant loss previously reported.
- China to release January Consumer Price Index, with recent months showing a fall in the inflation rate.
- The Chinese Lunar New Year holiday period to last 7 days, with an additional day this year to boost consumer spending.
- China anticipates 9 billion domestic trips during the 40-day Lunar New Year travel period, doubling from the previous year.
- Concerns over China’s job market could dampen the effects of the government’s efforts to stimulate consumer spending.
- Japan’s tourism and retail industries hopeful due to the favorable exchange rate against the Yuan.
- Economic slowdown in China may affect younger generations’ ability to travel abroad, including to Japan.
- Flights between China and Japan have increased but are still at only 40% of pre-pandemic levels due to Japan’s labor shortage.
- Economists are watching to see if the holiday spending will provide the expected stimulus to both economies.
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Original video here.
This summary has been generated by AI.