Japan’s Economy Contracts 7.8 Percent, Worst Decline on Record
The bad news for various major economies in the world are piling up. The Japanese economy gets its worst result on record.
“The pandemic’s total impact on the economy up to this point is almost the same as the 2008 financial crisis,” said Michinori Naruse, an economist at the Japan Research Institute. But with the financial crisis, “things got worse slowly,” he said. “This time, they got bad all at once.”
The recession is likely to effect numerous business across the country. As SMEs will be hard-hit in the first phase of the crisis, a spill-over effect is feared across the economy. In those circumstances Deriveum offers unique value proposition – effectively sharing risks between investors and insurers.
Check the NYTimes article for further details.
