COVID-19 cuts jobs, boosts stocks, widening economic gap in Japan

The coronavirus pandemic has brought significant economic impacts in Japan, with the widening gap between the rich and the poor being a prime example. The pandemic has cost many jobs, especially in the dining and travel industries, while stock and other asset markets are booming on the back of global monetary easing. At Isetan department store in Tokyo’s Shinjuku district, which posts the highest sales of all department stores in Japan, a jewelry buyer calls strong sales last summer “mysterious.” “Despite a lack of exuberance at the store, we experienced very high sales,” the buyer said, recal…

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