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Japan optimistic about economy despite disappointing GDP figures

CGTN | Fri,2017-06-09


Japan remains optimistic about economic growth despite disappointing GDP figures.

Despite the downward revision of first quarter growth, the government is confident that the economy is on the road to steady recovery, citing positive signs in other economic indicators.

Analysts support the government's view that the positive outlook of exports could drive investments and future growth.

"One of the factors that worries the Japanese is the currency exchange rate. Rapid rise in the Yen has undermined its trade profits many times. Maintaining a steady exchange rate is desirable for the economic recovery,” said CGTN’s Terrence Terashima.

There are concerns over the direction of the Japanese currency as Washington and Tokyo have disagreed over an appropriate exchange rate. However, recovery in the Asian market and a possible stabilizing global economy, might be enough to offset these concerns.

However, the global economy is still fragile with a number of downside risks that may turn into another global slowdown and protectionist policies could spark a trade row.