Current location:business >>
VOX POPULI: Nikkei index soars but real economy still feels sluggish
business9664People have gathered around
IntroductionWhen 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.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Planet Pulse news portal”。http://iraq.argoasecurityeu.com/article-77f099914.html
Related articles
Raymond scores late in 3rd and OT to keep Red Wings playoffs alive with 5
businessDETROIT (AP) — Lucas Raymond scored 4:35 into overtime after he a game-tying goal with 1:17 left in ...
【business】
Read moreLawsuits, protests call on U.S. gov't to halt support for Israel
business(Xinhua) 13:30, January 30, 2024SACRAMENTO, the United States, Jan. 29 (Xinhua) -- The U.S. governme ...
【business】
Read moreMexico's president accuses U.S. of stirring mudslinging in media
business(Xinhua) 11:29, February 01, 2024MEXICO CITY, Jan. 31 (Xinhua) -- Mexican President Andres Manuel Lo ...
【business】
Read more
Popular articles
- Karen Millen reveals she 'misses the cleaner' she had before going bankrupt
- Lawsuits, protests call on U.S. gov't to halt support for Israel
- 3 armed drones downed near U.S. military base in northern Iraq
- Sri Lankan navy apprehends 12 Indian fishermen for poaching
- Crosby scores 42nd goal, Penguins keep playoff hopes alive with 4
- Arab states condemn U.S. for vetoing UNSC resolution on Gaza ceasefire
Latest articles
New Godzilla x Kong film tops China box office
Westfield Bondi Junction incident live updates: Heartbreak as mother of nine
Homicide suspect kills himself after fleeing through 3 states, authorities say
Tkachuk gets 2 goals, Batherson scores in the shootout, and Senators beat Canadiens 5
The glare of car headlights could be a risk for heart conditions... As ever
Pictured: First
LINKS
- Government needs to 'step up' and support rainbow community amid protest
- Texas semi
- Travis Kelce hilariously ripped for his old tweets at New Heights live
- Paulo Dybala mocks Matteo Guendouzi by during ill
- Revealed: The startling number of English
- Video shows Victim Support worker 'bragging' about smacking his children
- James Corden FINALLY gets approval to demolish his Oxfordshire home after months of delays
- Kyle Richards rocks a tuxedo while ex
- Taylor Swift 'turned down $9MILLION offer to perform private concert in the United Arab Emirates'
- Scary Movie is back! Franchise will be rebooted 11 years after Scary Movie 5 was released