Japan enters rehab for cash-addiction
04/11/2019 02:42
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
By Pete Sweeney
HONG KONG, Nov 4 (Reuters Breakingviews) - The world's
third-largest economy is hooked on paper money. Ditching
banknotes could generate a 3% one-off output boost in big cities
like Tokyo, juicing innovation and wages. Elderly consumers and
reluctant merchants will require more forcible persuasion,
though.
Full view will be published shortly.
On Twitter https://twitter.com/petesweeneypro
CONTEXT NEWS
- Japan reported on Oct. 24 that factory activity shrank at
the fastest pace in over three years during the same month.
Activity was hurt by slumping new orders and output.
- Japan rolled out a twice-delayed increase in its sales tax
to 10% from 8% on Oct. 1. The new policy offers rebates for
cashless transactions conducted at smaller stores.
- For previous columns by the author, Reuters customers can
click on SWEENEY/
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($1 = 107.9700 yen)
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Japan factory activity shrinks at quickest pace since 2016 in
Oct urn:newsml:reuters.com:*:nL3N27810X
BREAKINGVIEWS-Japan's banks could use a dose of kind cruelty
urn:newsml:reuters.com:*:nL4N24U1IA
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(Editing by Una Galani and Katrina Hamlin)
((pete.sweeney@thomsonreuters.com; Reuters Messaging:
pete.sweeney.thomsonreuters.com@reuters.net))