Your current location:HOME >sport >VOX POPULI: Nikkei index soars but real economy still feels sluggish 正文
TIME:2024-05-09 01:25:45 Source: Internet compilationEdit:sport
When watching a Hollywood movie, the first thing you see is the production logo, the “face” of the f
When watching a Hollywood movie, the first thing you see is the production logo, the “face” of the film production company, so to speak.
The examples that come immediately to mind include the iconic MGM lion, the Universal globe, and the Columbia woman holding a torchlight in her right hand.
This woman once appeared on the cover of Newsweek magazine, clad in kimono. That was back in 1989, when Sony Corp. acquired Columbia Pictures Entertainment Inc.
It was said that the Japanese were buying into “America’s soul.” The Sony-Columbia deal was immediately followed by Mitsubishi Estate’s acquisition of a controlling interest in Rockefeller Group Inc.
Nothing could stop the surge of Japan money. The Nikkei 225 index hit an all-time-high in December of that year.
This record was shattered on Feb. 22. The index closed at 39,098.68, rewriting the record for the first time in 34 years.
“The old record was set in the year I was born,” remarked a young colleague of mine.
I suppose I can say that the Japanese economy has finally come out of the long tunnel and is now basking in the spring sunshine.
But I would also note that in the United States and Germany, stock prices have risen tenfold over the last 34 years, whereas Japan has only regained the high of a long-ago era before the popularization not only of mobile phones but also of even personal computers.
Unlike back in the asset-inflated bubble years, I just don’t feel the economy is booming. Business remains brisk at 100-yen stores for budget-conscious shoppers. And even in Tokyo’s famed Ginza shopping and entertainment district, people start hurrying to train stations when it’s time to catch their last trains, rather than splurge on long taxi rides home.
In other words, consumption is sluggish. The economy has yet to start taking off for real.
This being the case, why don’t I treat myself to one more drink than usual at home, at least for today? It’s all for the good of the Japanese economy, right?
I can’t wait to get home.
--The Asahi Shimbun, Feb. 23
* *
*Vox Populi, Vox Dei is a popular daily column that takes up a wide range of topics, including culture, arts and social trends and developments. Written by veteran Asahi Shimbun writers, the column provides useful perspectives on and insights into contemporary Japan and its culture.
Shanghai Shenhua soars as Changchun Yatai struggles in Chinese Super League2024-05-09 01:22
Central Rural Work Conference Is Held, Xi Delivers Important Instructions on Rural Work2024-05-09 01:10
Israel cancels indoor mask requirement2024-05-09 00:07
(W.E. Talk) To Understand China, You Need to See China for Yourself2024-05-09 00:03
Rays starter Ryan Pepiot likely heading to IL after getting hit on left calf by a 107.5 mph liner2024-05-08 23:56
German dependency on Russian energy significantly reduced: president2024-05-08 23:55
Double blow for UK's Johnson as two Cabinet ministers quit2024-05-08 23:42
CPC Leadership Convenes Criticism and Self2024-05-08 23:36
US repatriates 11 citizens from notorious camps for relatives of Islamic State militants in Syria2024-05-08 23:31
China to provide emergency aid of 200m yuan, including food, 3 million vaccines to Afghanistan2024-05-08 22:49
PGA Tour goes to Quail Hollow ahead of PGA Championship. Nelly Korda goes for 6 in a row2024-05-09 01:08
U.S. guilty of coercion diplomacy: FM spokesperson2024-05-09 00:59
China to hand over completed new parliament building to Zimbabwe2024-05-09 00:56
Super deep2024-05-09 00:48
Rep. Greene and Speaker Johnson meet for a second day as possible vote on his ouster simmers2024-05-09 00:47
Twin giant panda cubs born in Madrid fine, healthy2024-05-09 00:33
Insights丨Foreign experts: The world draws lessons on China’s integrated urban2024-05-09 00:17
Drilling of undersea tunnel of Guangzhou2024-05-09 00:00
Chinese paddlers stunned at WTT 2024 Saudi Smash2024-05-08 23:54
China retrieves subglacial bedrock sample from East Antarctic2024-05-08 23:39