In Japan, Delaying the Olympics Will Deepen Virus Economic Woes

After much deliberation, Prime Minister Shinzo Abe on March 24 announced the delay of the 2020 Tokyo Summer Olympic Games in light of the open-ended COVID-19 pandemic. The games are still set to be held no later than summer 2021. Japan's decision to postpone the Tokyo Summer Olympics will further damage an economy already reeling from COVID-19, increasing the likelihood of massive stimulus spending and consumption tax relief....