Current location:entertainment >>
VOX POPULI: Nikkei index soars but real economy still feels sluggish
entertainment1People have gathered around
IntroductionWhen watching a Hollywood movie, the first thing you see is the production logo, the “face” of the f ...
When watching a Hollywood movie, the first thing you see is the production logo, the “face” of the film production company, so to speak.
The examples that come immediately to mind include the iconic MGM lion, the Universal globe, and the Columbia woman holding a torchlight in her right hand.
This woman once appeared on the cover of Newsweek magazine, clad in kimono. That was back in 1989, when Sony Corp. acquired Columbia Pictures Entertainment Inc.
It was said that the Japanese were buying into “America’s soul.” The Sony-Columbia deal was immediately followed by Mitsubishi Estate’s acquisition of a controlling interest in Rockefeller Group Inc.
Nothing could stop the surge of Japan money. The Nikkei 225 index hit an all-time-high in December of that year.
This record was shattered on Feb. 22. The index closed at 39,098.68, rewriting the record for the first time in 34 years.
“The old record was set in the year I was born,” remarked a young colleague of mine.
I suppose I can say that the Japanese economy has finally come out of the long tunnel and is now basking in the spring sunshine.
But I would also note that in the United States and Germany, stock prices have risen tenfold over the last 34 years, whereas Japan has only regained the high of a long-ago era before the popularization not only of mobile phones but also of even personal computers.
Unlike back in the asset-inflated bubble years, I just don’t feel the economy is booming. Business remains brisk at 100-yen stores for budget-conscious shoppers. And even in Tokyo’s famed Ginza shopping and entertainment district, people start hurrying to train stations when it’s time to catch their last trains, rather than splurge on long taxi rides home.
In other words, consumption is sluggish. The economy has yet to start taking off for real.
This being the case, why don’t I treat myself to one more drink than usual at home, at least for today? It’s all for the good of the Japanese economy, right?
I can’t wait to get home.
--The Asahi Shimbun, Feb. 23
* *
*Vox Populi, Vox Dei is a popular daily column that takes up a wide range of topics, including culture, arts and social trends and developments. Written by veteran Asahi Shimbun writers, the column provides useful perspectives on and insights into contemporary Japan and its culture.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Sphere news portal”。http://portugal.arismichailidis.com/html-22b599974.html
Related articles
Chinese Embassy in Britain celebrates UN Chinese Language Day to promote cultural exchanges
entertainmentA woman attends an event named "Evolution of Chinese Characters" in London, Britain, April ...
Read moreProposed agenda unveiled for annual session of China's top political advisory body
entertainment(Xinhua) 11:12, March 01, 2024BEIJING, March 1 (Xinhua) -- The main agenda proposed for the upcoming ...
Read moreA Michigan man and his dog are rescued from an inland lake's icy waters
entertainmentMICHIGAMME TOWNSHIP, Mich. (AP) — A Michigan man and his dog were rescued from the icy waters of an ...
Read more
Popular articles
- AI takes center stage at Beijing Film Fest
- Xi stresses development of new productive forces, high
- Press center opens for China's annual legislative, political consultative sessions
- China to take multiple measures to upgrade basic education: minister
- Guizhou slated to get new national park
- Advisory: Schedules for China's two sessions on March 4
Latest articles
Palestinian death toll in Gaza rises to 34,388: Ministry
Chinese lawmakers meet to deliberate reports
Profile: Xi revives culture, spearheads innovation for modern civilization
Juventus poor run continues in 0
Hong Kong Disneyland to launch world's first 'Frozen'
Macao SAR Legislative Assembly approves chief executive election law amendments
LINKS
- Latest review should 'put to bed' methane debate, minister says
- Cheng Lei China: Jailed Australian TV anchor jailed releases rare message
- VOX POPULI: Voters won’t forget ‘politics of oblivion’ in the next election
- VOX POPULI: Scent of snow fills the air after Tokyo receives a wet, wintry mix
- VOX POPULI: China always occupied a special place in Ozawa’s heart
- Coronavirus China update: China's funeral homes overcrowded amid COVID
- VOX POPULI: Young texters have rendered punctuation marks obsolete
- Offering a chair to older colleague at work could count as age discrimination, judge rules
- VOX POPULI: Our anger must never cool over ‘vital’ political fund
- Chinese hackers breached US ambassador to China's email account