Cabinet approval rating 41.1% (down 2.9%)
May 17, 2021 (Mon) Cloudy; Start of the rainy season from Okinawa to the Tokai region
- The United States and China are driving forces, and the global economy is entering a recovery phase.
While the pace of improvement varies by country, even within the same country, the benefits from a rebound differ greatly depending on income and employment type.
There is a risk that economic disparities will harden and market turmoil will increase as the COVID-19 pandemic subsides.
- Demand for luxury goods is robust. Jewelry sales in March expanded to about twice the level of the same month last year.
Affluent individuals with substantial financial assets increased their spending due to rising stock prices.
On the other hand, in March, about 10 million households in the U.S. were behind on rent, roughly 20% of renters.
The estimated amount of overdue payments up to March was about 9.8 trillion yen, dozens of times higher than before the pandemic.
Racial disparities exist, such as 33% of Black people being delinquents.
- The concentration of wealth accelerated by the pandemic.
According to Oxford Economics in the U.K., from March 2020 to January 2021,
the top 20% of household income earners in the United States increased their savings by about $2 trillion, while the bottom 20% saw savings decrease by over $180 billion.
The wealthy are shifting toward luxury purchases, while those with less are left in hardship.
- With autonomous driving technology development, traditional automobile manufacturers are making a comeback after lagging behind IT giants.
At the end of January, in the United States, a competitiveness ranking of patents showed Ford Motor and Toyota <7203> [closing price 8,478 yen] among the top,
surpassing Alphabet (Google) in the U.S., which had been leading two and a half years earlier.
Sony Group <6758> [closing price 10,225 yen] also entered the top 50.
- Industrial subsidies to Chinese listed companies reached 213.6 billion yuan (about 3.6 trillion yen) in 2020, the highest on record, up 14% year over year.
Semiconductors and defense saw notable growth, signaling moves to prepare for prolonged tensions with the U.S.
- Large-scale COVID-19 vaccination centers opened by the government will begin accepting vaccination reservations at the Tokyo venue around 11:00 a.m. on the 17th.
In Osaka, around 1:00 p.m.
The target is elderly people aged 65 and over residing in Tokyo wards and Osaka City who have received vaccination tickets from the city or ward but have not yet had their first dose.
Reservations are online only, using the Ministry of Defense's website. It is also possible to apply through the chat app LINE.
Phone reservations are not accepted.
- Israeli Prime Minister Netanyahu announced continued airstrikes on the Gaza Strip on the 15th.
President Biden spoke by phone with the Israeli and Palestinian leaders in succession, urging de-escalation, but clashes could not be stopped.
- Global COVID-19 infection numbers (deaths) as of 4:00 p.m. May 16, compiled by Johns Hopkins University: worldwide total 162,530,000 cases (117,65 deaths)
United States 32,924,078 (476) | India 24,684,077 (4,077) | Brazil 15,586,534 (2,087) | France 5,925,071 (112) | Turkey 5,106,862 (236) | Russia 4,875,308 (359)
United Kingdom 4,464,663 (7) | Italy 4,153,374 (136) | Spain 3,604,799 (0) | Germany 3,595,872 (70) | Argentina 3,290,935 (400) | Colombia 3,103,333 (530)
- Daifuku <6383> [closing price 9,650 yen] will establish a new factory for airport cargo handling systems and other equipment in the United States.
Investing about 2 billion yen to consolidate production from three existing plants into the new facility.
They position airport-related businesses as a growth pillar and will strengthen production capacity.
- Markets are anxious about accelerated inflation in the United States.
With labor supply tightening, prolonged easy monetary policy could fuel wage growth, potentially stalling economic growth.
If missteps occur, even rate hikes to curb inflation may come into view.
- Domestic COVID-19 infection numbers: confirmed cases 684,722 (net new cases +5,261 as of 8:00 p.m. 16th); deaths 11,536 (+46)
Hokkaido 30,402 (+491) | Tokyo 152,239 (+542) | Osaka 94,775 (+620) | Kyoto 14,675 (+140) | Hyogo 37,551 (+267) | Aichi 40,760 (+522)
Fukuoka 30,221 (+505) | Okayama 6,135 (+171) | Hiroshima 8,386 (+209) | Saitama 41,552 (+216) | Chiba 35,473 (+135) | Kanagawa 57,865 (+296)
Gifu 7,438 (+117) | Mie 4,453 (+37) | Ehime 2,620 (+8) | Okinawa 13,857 (+78) | Gunma 7,203 (+51) | Ishikawa 3,233 (+59) | Kumamoto 5,414 (+60)
From here in [Corona Morning Premium]
Weekends feature [Stock Research] distribution ⇒http://www.koronoasa.com/info/
5/15 (Sat) [Corona Morning Seminar] Special lecture by Hajime Mabuchi (download)
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