I can't see Nishimura getting a Nobel Economics for this particular insight.
Warned that corporate profits and factory production might take a hit from the coronavirus outbreak in China
- "There are concerns over the impact to the global economy from the spread of infection in China, transportation disruptions, cancellation of group tours from China and an extension in the Lunar Holiday"
- If the situation takes longer to subside, we're concerned it could hurt Japanese exports, output and corporate profits via the impact on Chinese consumption and production"
China money is huge for Japan (and elsewhere):
- China is Japan's second largest export destination
- a huge market for Japan's retailers
- Chinese make up 30% of all tourists visiting Japan, but spend nearly 40% of the total sum foreign tourists did (last year's figures)
