Asian View
Key words : GDP three quarters
https://www3.nhk.or.jp/nhkworld/en/news/20210518_09/
Japan's GDP figure for the January-to-March period dropped into negative territory as consumer spending fell due to a second state of emergency.
The Cabinet Office says GDP shrank at an annualized 5.1 percent from the previous quarter in real terms.
However, the latest data were not as bad as the record drop of minus 28.6 percent in the April-June period last year.
But it was still the first fall in three quarters. The state of emergency declared in early January put a squeeze on the economy.
Many analysts are gloomy about the current quarter as well. A third state of emergency is now in place.
Key words : health ministry moderna
https://www3.nhk.or.jp/nhkworld/en/news/20210518_03/
Japan's health ministry is set to authorize the use of Moderna's coronavirus vaccine later this week.
Currently, the Pfizer vaccine is the only one being used as Japan inoculates the elderly and others.
Applications for the Moderna and AstraZeneca vaccines have been filed with the ministry, following Pfizer's.
The ministry will convene a meeting of experts on Thursday to look into both vaccines.
The ministry will likely give the green light to Moderna as early as Friday, after gaining approval from the experts.
The Moderna vaccine is then expected to be administered at mass vaccination sites due to open on Monday next week.
As for the AstraZeneca vaccine, ministry officials will carefully weigh its alleged risk of forming blood clots against the efficacy, with input from the experts in mind.
Under a contract with Japan's government, AstraZeneca will supply enough doses for 60 million people.
Key words : supreme court caused by first
https://www3.nhk.or.jp/nhkworld/en/news/20210517_25/
Japan's Supreme Court has ruled that the state and building material makers are liable for health damage suffered by construction workers who developed lung diseases caused by asbestos.
The top court on Monday handed down rulings on four claims for damages filed with district courts in Yokohama, Tokyo, Kyoto and Osaka by former construction workers and their bereaved families. This is the first such ruling by the Supreme Court on damage claims related to asbestos.
The plaintiffs say the former workers developed lung cancer, mesothelioma and other illnesses after inhaling asbestos at construction sites.
Presiding Justice Miyama Takuya of the top court said that the state government should have given guidance by 1975 about the risks of using asbestos at construction sites and the need for workers to wear dust-proof masks.
The ruling came after more than 1,200 affected workers and their surviving families filed lawsuits across Japan for damages against the state and manufacturers since 2008.
Every year, about 500 to 600 construction workers qualify for industrial accident compensation insurance for diseases caused by asbestos.
The latest decision by the top court is expected to influence relief plans under consideration by the government.
Key words : taiwan ban foreign national
https://www3.nhk.or.jp/nhkworld/en/news/20210517_29/
Taiwan has decided to ban the entry of foreign nationals without a resident certificate in principle for one month from Wednesday.
The decision came amid a sharp surge in coronavirus cases in Taiwan. Taiwanese officials said on Monday that the move was made in consideration to the burden on healthcare systems.
Taiwanese authorities reported 333 new cases on Monday.
The total number of confirmed cases in Taiwan had been 164 as of Friday, not including arrivals from abroad. However, more than 700 cases have been reported for the past three days, bringing the total to 883.
Cases among arrivals from abroad have also continued.
The authorities on Saturday raised the alert level for Taipei and New Taipei from the third to the second highest on a four-stage scale. High numbers of cases have been reported in the two cities.
Authorities are calling on people to refrain from non-essential, non-urgent outings, and to opt for teleworking and staggered commuting.
Crowd numbers have significantly fallen during lunch time in the business district in Taipei.
In the two cities, movie theaters and other facilities will be shut down until May 28. Elementary, junior high and high schools will also be closed from Tuesday until May 28.
Key words : GDP pandemic
https://www3.nhk.or.jp/nhkworld/en/news/20210518_18/
Japan's economy contracted in the first quarter of this year as a second state of emergency undercut consumer spending.
The Cabinet Office says GDP shrank an annualized 5.1 percent in January-to-March from the previous quarter in real terms. However, the data were not as bad as the record drop of minus 28.6 percent in the April-June period last year.
Japan is the world's third-largest economy. Consumer spending accounts for more than half.
The latest figure was minus 1.4 percent due to slow turnover at restaurants and hotels.
On the bright side, exports were up 2.3 percent, staying positive for the third straight quarter.
But growth was slow, as the auto industry struggled with a global shortage of semiconductors.
For the full fiscal year through March, GDP shrank 4.6 percent in real terms, down for the second straight year. It was the biggest drop since comparable data first became available in fiscal 1995.
The government predicts that GDP will grow by about 4 percent in real terms in the current fiscal year that started last month.
Economic Revitalization Minister Nishimura Yasutoshi noted that the government intentionally put the brakes on the economy to deal with the pandemic.
Nishimura said "We have no plan so far to change the government's economic outlook. We aim to get the economy back to the pre-pandemic level in the current fiscal year by implementing sound policies in a flexible manner."
But many analysts are not so sure. The third state of emergency now in place is already taking its toll on the economy.
Key words : economy indonesia philippines
https://www3.nhk.or.jp/nhkworld/en/news/20210518_01/
The coronavirus pandemic has weighed on Southeast Asian economies. Some countries have been experiencing economic decline for more than a year.
Major economies in the region released gross domestic product data for the January-to-March period.
Indonesia's economy -- the largest in the region -- contracted by 0.7 percent year-on-year, marking the fourth straight quarter of decline.
Continued measures to reduce infection risks in the capital, Jakarta, and other parts of the country led to a slowdown in consumption.
The economies of the Philippines and Thailand both shrank for five quarters in a row, by 4.2 and 2.6 percent respectively.
Malaysia's economy contracted by 0.5 percent -- the fourth consecutive quarter of contraction.
Relatively strong growth in the region had helped to power the global economy before the pandemic.
But travel restrictions and other measures have been reinforced in some countries with rising infection rates, putting the brakes on recovery in the region.
If the situation continues, it could possibly pose a risk to the global economy.
Key words : fresh data
https://www3.nhk.or.jp/nhkworld/en/news/20210517_28/
Fresh data out of China show the world's second largest economy is getting back in gear after it was hit hard by the coronavirus pandemic.
The National Bureau of Statistics says industrial output rose 9.8 percent in April from the same month last year, boosted as firms revved up production of electric vehicles and robots for manufacturing.
Retail sales surged 17.7 percent year-on-year as shoppers snapped up sporting goods and jewelry.
Fixed asset investment jumped 19.9 percent in the first four months of 2021 from a year earlier, driven by growing real estate development and investment in high-tech industries.
But a statistics bureau spokesperson warned that some sectors are recovering more slowly.
Fu Linghui said, "Our economy is still recovering and the process remains uneven between industries. The recent rise in prices for raw materials is increasing pressure on corporate production."
Key words : hoshide
https://www3.nhk.or.jp/nhkworld/en/news/20210517_02/
Japanese astronaut Hoshide Akihiko will give a lecture to elementary school students from the International Space Station. He arrived at the ISS late last month for his third stay on the outpost.
Japan's education and science ministry is planning to hold the event in early July in tandem with the Japan Aerospace Exploration Agency, or JAXA.
Hoshide will give a lecture through the Internet on how water and food float in space and how astronauts eat. He will make demonstrations for students to watch and then take questions.
Education and science minister Hagiuda Koichi said he wants students across the country to join the lecture as it will be a precious opportunity to foster hopes and dreams for outer space.
Hagiuda added that he hopes the event will promote students' interest in space and deepen their understanding.
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