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Opinion

Postponing Olympics adds to nightmare year for Japan's economy

Coronavirus pandemic demands shock-and-awe tactics from Abe and Kuroda

| Japan
Time is not on Japan's side as coronavirus risks increase.   © LightRocket/Getty Images

The $6 billion that just walked out the door with the postponement of the 2020 Olympics is only the start of the hits Japan's economy will sustain this year.

That estimated loss from the Summer Games being delayed until 2021 was not on any executive's radar two months ago. Nor was the idea of Japan losing virtually all tourism as the coronavirus ravaged global growth. This year's festivities were supposed to be Prime Minister Shinzo Abe's crowning glory. Yet 2020 is now darkening by the day.

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