波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒

Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Chinese Perspectives

Japan paying high price for PM's rhetoric

By Yan Kun | China Daily | Updated: 2025-12-17 07:07
Share
Share - WeChat
Sanae Takaichi (2nd R, front) attends the extraordinary session of the House of Representatives in Tokyo, Japan, Oct 21, 2025. [Photo/Xinhua]

The recent provocative remarks by Japanese Prime Minister Sanae Takaichi on China's Taiwan island have not only pushed Sino-Japanese relations to a dangerous level but also inflicted serious economic damage. What began as political posturing has turned into a harsh economic reality for Japan. The country's fisheries, export-oriented agriculture and service industries are already feeling the shock waves, amplifying the strain on its fragile economy.

Japan's three economic engines — consumption, investment, and exports — are all sputtering simultaneously. Weak external demand and sluggish domestic consumption have exposed the country to both near-term and structural challenges. The absence of robust industrial support, combined with the limitations of "Takaichi Economics" as an extension of "Abenomics", risks pushing Japan into another recessionary cycle.

Declining exports are the main factor behind Japan's economic deceleration. With US tariffs impacting trade, Japan's real GDP fell 0.4 percent quarter-on-quarter in the third quarter of 2025, the first decline since the first quarter of 2024. In October 2025, Japan's exports to the US dropped 3.1 percent year-on-year, marking seven consecutive months of decline. The automotive sector -the backbone of Japan's trade — suffered a 7.5 percent decrease in exports.

There was a time when automakers absorbed tariff costs by lowering prices to maintain shipment volumes. But this strategy ate into profits and put pressure on companies to raise prices, which in turn would drag down exports and economic growth. Meanwhile, Japan's attempts at "China decoupling" in supply chains, semiconductor controls, higher import substitution in China and Beijing's restrictions on seafood imports have significantly reduced Japan's exports to China. Takaichi's remarks threaten to accelerate this downward trend, with growth in the fourth quarter of 2025 likely to remain negative.

To add to its woes, rising prices have constrained domestic consumption in Japan. Core inflation rose 3 percent year-on-year in October 2025, marking the 50th consecutive month of increase in prices. Although Japan has defeated long-term deflation, the current inflation is not because of a healthy increase in demand but due to rising input costs. This dampens the recovery prospects of a country weighed down by high government debt and a rapidly aging population.

Rising prices reduce real disposable income, suppressing consumption growth. Real wages continued to decline in the third quarter of 2025, while personal consumption increased by only 0.1 percent quarter-on-quarter, down from 0.4 percent in the second quarter. For now, the asset-driven income from rising stock and property prices is fueling consumption, but if these bubbles burst, domestic demand could weaken further.

Falling investment adds to Japan's economic headwinds. Despite growth in corporate equipment investment, declining exports and profit pressures are prompting more cautious investment decisions. For instance, Japan's seven largest automakers reported a roughly 30 percent drop in net profits between April and September 2025.Asset bubbles in prime urban areas further heighten the potential impact of a market correction.

Japan's stock, bond and currency markets have experienced severe turbulence in recent weeks. The Nikkei 225 has erased all gains since Takaichi took office, 30-year government bond yields have reached historic highs, and the yen is approaching the 160-dollar level that typically triggers the intervention alarm. Concerns over rising government debt, persistent inflation, uncertain interest rate policy and worsening trade relations with China are driving a wave of sell-offs.

The Takaichi cabinet is relying on debt-financed stimulus while the Bank of Japan has reduced bond purchases. The limited room for currency intervention and rapid unwinding of yen carry trades suggest that the ongoing turbulence will continue. Former BOJ Deputy Governor Hirohide Yamaguchi has warned that US financial risks and anticipated rate hikes could burst the asset bubble in Japan.

The series of countermeasures China implemented in response to Takaichi's remarks are already weighing on the Japanese economy. These measures include suspending imports of Japanese seafood, freezing discussions on Japanese beef exports and tightening controls on cultural and tourism exchanges.

The seafood import suspension alone affects 172 Japanese companies. China accounts for 47.8 percent of their exports, according to Teikoku Databank. Japan's seafood exports fell 7.5 percent in 2024. The new measures will accelerate the "de-Japanization" of seafood supply chains.

Japan's strategy to expand export-oriented agriculture also faces problems. The agreement with China on animal health and quarantine that took effect in July had raised hopes for beef exports, but subsequent regulatory processes have stalled.

Japan's tourism has been the worst hit. China's advisories against travel to Japan have led to massive cancellations — 904 flights were scrapped in December alone — hitting Japan's inbound tourism sector. Analysts estimate that halving Chinese tourist numbers could cost Japan nearly the same as losing all US tourists. Cultural exports are also affected as film releases and performances are delayed or canceled, undermining the ambitious "Cool Japan" strategy.

For Japan, the cost of high-risk diplomacy is mounting, and the road to recovery appears steeper than ever.

The author is a researcher at Institute of Japanese Studies, Chinese Academy of Social Sciences.

The views don't necessarily reflect those of China Daily.

If you have a specific expertise, or would like to share your thought about our stories, then send us your writings at opinion@chinadaily.com.cn, and comment@chinadaily.com.cn.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒
精品一区二区三区视频在线观看| 无码人妻精品一区二区三应用大全 | 国产精品香蕉一区二区三区| 亚洲观看黄色网| 欧洲一区在线电影| 国产喂奶挤奶一区二区三区| 男男gaygay亚洲| 国产一级免费片| 欧美手机在线观看| 久久久精品黄色| 久久99久久99| 在线免费观看日韩av| 7777女厕盗摄久久久| 欧美高清一级片在线观看| 精品无人区卡一卡二卡三乱码免费卡| 六十路息与子猛烈交尾| 欧美挠脚心视频网站| 亚洲自拍偷拍欧美| 亚洲av无一区二区三区久久| 在线观看日韩精品| 亚洲女同ⅹxx女同tv| 成人国产视频在线观看| 蜜臀av午夜精品久久| 欧美国产一区二区| 国产精品一区不卡| 亚洲av无一区二区三区| 久久久噜噜噜久噜久久综合| 黄色日韩网站视频| 无码人妻aⅴ一区二区三区69岛| 日韩美女主播在线视频一区二区三区 | 国产乱码精品一区二区三区忘忧草 | 欧美xxxx精品| 中文字幕免费观看一区| 成人av在线电影| 真实国产乱子伦对白在线| 洋洋成人永久网站入口| 性久久久久久久久久久| wwwwxxxxx欧美| 国产丶欧美丶日本不卡视频| 婷婷色中文字幕| 亚洲妇熟xx妇色黄| 精品少妇人妻一区二区黑料社区| 久久久精品国产99久久精品芒果| 成人永久aaa| 欧美嫩在线观看| 九九久久精品视频| 懂色av懂色av粉嫩av| 亚洲一区二区三区国产| 国产福利一区二区| 日本韩国一区二区三区| 日精品一区二区| 亚洲毛片亚洲毛片亚洲毛片| 亚洲丝袜另类动漫二区| 无码人妻精品一区二区三| 2014亚洲片线观看视频免费| 成人性生交大片免费看中文网站| 欧美午夜一区二区三区免费大片| 日本不卡一区二区三区高清视频| 欧美xxxooo| 午夜精品久久久久久久蜜桃app| 久久婷婷五月综合| 亚洲色图清纯唯美| 青青草福利视频| 中文字幕一区二区三区蜜月| 国产激情第一页| 国产三级精品在线| www.四虎在线| 中文欧美字幕免费| 大乳护士喂奶hd| 国产精品理伦片| 四季av综合网站| 国产精品国产精品国产专区不片| 中文字幕乱码在线| 日韩一区在线看| 在线免费观看麻豆| 一区二区三区在线免费视频| 无码人妻丰满熟妇啪啪欧美| 亚洲国产美国国产综合一区二区| 中文字幕在线观看二区| 亚洲国产综合人成综合网站| 农村老熟妇乱子伦视频| 图片区小说区区亚洲影院| 国产一区二区三区在线视频观看| 日韩电影一二三区| 91久久线看在观草草青青| 黄色日韩三级电影| 这里只有精品电影| 99精品国产91久久久久久| 久久精品人人做人人爽人人| 好男人香蕉影院| 亚洲精品高清在线| 久久久久久久久久97| 久久99久久久欧美国产| 欧美日韩美少妇 | 久久综合成人精品亚洲另类欧美| 波多野结衣三级视频| 中文字幕在线观看不卡视频| 国产又粗又猛又爽又黄av| 婷婷丁香激情综合| 欧美系列亚洲系列| 国产mv日韩mv欧美| 26uuu另类欧美亚洲曰本| 国产一级二级视频| 亚洲一区在线看| 无码人妻精品一区二区三区夜夜嗨| 极品美女销魂一区二区三区免费| 91麻豆精品国产91久久久| 99久久er热在这里只有精品66| 国产欧美一区二区三区网站| 国产精品无码一区二区三区| 天天综合天天做天天综合| 欧美视频中文字幕| 91婷婷韩国欧美一区二区| 国产精品第五页| 国产美女福利视频| 国产麻豆精品theporn| 精品国产免费一区二区三区四区| 无码一区二区精品| 亚洲成人动漫一区| 欧美日韩一区二区三区高清| 91免费视频网址| 亚洲人成精品久久久久久| 国产成人久久久久| 粉嫩一区二区三区性色av| 欧美国产1区2区| 91香蕉视频网| 国产美女精品一区二区三区| 欧美精品一区二区三区在线播放 | 国产福利一区二区三区视频 | 国产午夜精品久久久久久免费视| 制服 丝袜 综合 日韩 欧美| 麻豆传媒一区二区三区| 日韩精品一区二区三区在线播放| 免费成人深夜夜行p站| 日韩精品一二三四| 欧美大片在线观看一区二区| 欧美熟妇一区二区| 久久9热精品视频| 久久久亚洲精华液精华液精华液| 国产精品久久久久久久av| 国内成人自拍视频| 国产免费观看久久| 色综合中文字幕国产| 成人黄色免费短视频| 亚洲欧美国产三级| 欧美色网站导航| 国产xxxx视频| 男男视频亚洲欧美| 久久久久久电影| 国产极品美女在线| 91丨九色丨尤物| 午夜欧美电影在线观看| 日韩一级片网站| 中文字幕av久久爽一区| 国产成人av资源| 亚洲精品自拍动漫在线| 欧美日韩美少妇 | 亚洲成人手机在线| 日韩视频免费观看高清完整版 | 日韩黄色在线观看| 2021中文字幕一区亚洲| 中文字幕电影av| 69久久精品无码一区二区| 午夜一区二区三区在线观看| 欧美大度的电影原声| 日韩一区二区三区四区视频| 99re视频精品| 日本最新不卡在线| 国产婷婷一区二区| 自拍偷拍中文字幕| 丁香六月久久综合狠狠色| 亚洲黄色免费网站| 日韩视频在线你懂得| 欧美日韩生活片| 91小视频免费观看| 秋霞影院一区二区| 国产精品女主播在线观看| 欧美日韩和欧美的一区二区| 国产毛片久久久久久久| 大胆欧美人体老妇| 婷婷亚洲久悠悠色悠在线播放| 久久久久久久电影| 欧美性videosxxxxx| 欧洲女同同性吃奶| 成人黄色一级视频| 亚欧色一区w666天堂| 亚洲国产精品黑人久久久| 欧美日韩免费视频| 国产中文字幕久久| 国产精品麻豆入口| 成人av在线播放网站| 午夜激情一区二区| 国产精品午夜在线观看| 欧美福利电影网| 国产中文av在线| 国产精品无码网站| 99久久婷婷国产精品综合| 久草精品在线观看| 亚洲福中文字幕伊人影院| 欧美韩国日本综合|