Instability in the global economy and financial markets due to the slowdown in emerging-market economies and the UK's departure from the EU

「世界経済においても、中東情勢の緊迫化による原油価格の高騰や、ウクライナ情勢などの地政学的リスクも依然として存在するため、先行き不透明な状況が続いている。」

「However, risks have emerged due to the escalating situation in the Middle East, including restrictions on crude oil imports. If the situation is prolonged, further price increases for petroleum products and related products are expected, which could become a significant downside risk. The outlook for the global economy also remains uncertain, and developments in policies including US trade policy, as well as the situations in the Middle East and Ukraine, need to be closely monitored.」

「In the shipbuilding industry, US policies include requests for cooperation from Japan and South Korea to revive the US shipbuilding industry and the introduction of port fees for Chinese-built vessels. These developments could change the competitive environment and create business opportunities for domestic shipyards. In addition, on 13 June 2025, the Japanese government adopted the Basic Policy on Economic and Fiscal Management and Reform 2025, announcing that it would consider support measures to strengthen the maritime cluster centered on Japan's shipping and shipbuilding industries. Although these are positive developments, the outlook remains uncertain because the support measures may not align with the needs of companies in the maritime industry.」

「The global economy was slowing as worldwide inflation, including prices for crude oil and food products, continued amid the prolonged situation in Ukraine and worsening conditions in the Middle East. In addition, drought in the Panama Canal had restricted transit, while vessel operations were being disrupted in the Red Sea, requiring close monitoring of developments.」

「The global economy was slowing as worldwide inflation, particularly in food prices, continued amid the prolonged situation in Ukraine. In addition, the yen continued to weaken against the dollar due to interest-rate differentials with Japan, resulting from monetary tightening in Europe and the United States. The outlook for foreign exchange markets was difficult to predict because the prospects for an economic slowdown and the direction of disinflation remained uncertain.」

「The outlook for the global economy remained uncertain due to higher crude oil prices resulting from the prolonged situation in Ukraine and global inflation.」

「During the third quarter of the fiscal year, Japan's economy showed signs of recovery in corporate activity and personal consumption, despite downside risks including sharp foreign exchange volatility and rising prices. Economic activity in the global economy continued to recover, but the outlook remained uncertain due to higher crude oil prices resulting from the prolonged situation in Ukraine and global inflation.」

「Although economic activity continued to recover, the outlook for the global economy remained uncertain due to higher crude oil prices resulting from the prolonged situation in Ukraine and global inflation.」

「As corporate activity recovered and cargo movements increased, shipping market conditions, particularly for container vessels, remained strong. However, the outlook was uncertain due to risk factors including higher crude oil prices stemming from the situation in Ukraine and trends in foreign exchange markets.」

「As corporate activity recovered and cargo movements increased due to the effects of vaccinations, shipping market conditions, particularly for container vessels, became more active. However, new variants were spreading rapidly, leaving the outlook uncertain.」

「As corporate activity recovered and cargo movements increased with the progress of vaccinations, shipping market conditions also became more active, particularly for container vessels.」

「Although economic activity is resuming in regions where infections are being contained through COVID-19 vaccinations, concerns over the continued spread of infections in emerging markets remain, and the outlook for the global economy continues to be uncertain.」

「During the third quarter of the fiscal year, Japan's economy rapidly deteriorated due to the impact of COVID-19, then gradually showed signs of recovery as companies resumed production and other activities following the lifting of the state of emergency. However, infections continued to spread and the outlook became even more uncertain. Although COVID-19 vaccines had been developed and vaccination began in Europe and the United States, there were still no signs of the pandemic subsiding, and the outlook for the global economy remained uncertain.」

「Although economic activity resumed in various parts of the world, including the lifting of movement restrictions in some advanced Western countries, concerns over a resurgence of infections remain, and the outlook continues to be uncertain.」

「During the first quarter of the fiscal year, Japan's economy became more vulnerable to the outlook as the spread of COVID-19 eliminated inbound demand and rapidly deteriorated corporate earnings and the employment and income environment amid growing public pressure to refrain from activities under the state of emergency. The global economy also remained uncertain due to stagnation in economic activity caused by the spread of the virus.」

「Concerns over the global economy have increased due to the prolonged US-China trade friction, the impact of the UK's departure from the EU, and rising tensions in the Middle East, further clouding the outlook.」

「Concerns over the global economy have increased due to intensifying US-China trade friction, the impact of the UK's departure from the EU, and rising tensions in the Middle East, further clouding the outlook.」

「Although the global economy as a whole remains on a gradual recovery path, the outlook remains uncertain due to the need to monitor developments in trade issues, the outlook for the Chinese economy, and uncertainty over policies in various countries.」

「During the third quarter of the fiscal year, Japan's economy was on a gradual recovery path, supported by continued improvements in the employment and income environment and the effects of various policies. However, the global economy remained uncertain, with concerns over trade friction resulting from US protectionist policies and the political and economic outlook for East Asia, including China.」

「During the second quarter of the fiscal year, Japan's economy was on a gradual recovery path, supported by continued improvements in the employment and income environment and the effects of various policies. However, the global economy remained uncertain, with concerns over trade friction resulting from US protectionist policies and the political and economic outlook for East Asia, including China.」

「During the first quarter of the fiscal year, Japan's economy was on a gradual recovery path, supported by continued improvements in the employment and income environment and the effects of various policies. However, the global economy remained uncertain, with concerns over trade friction resulting from US protectionist policies and the political and economic outlook for East Asia, including China.」

「The US economy continues to expand on the back of robust employment conditions. Although concerns remain over protectionist economic policies in some countries, the global economy is gradually showing signs of recovery as cargo movements increase.」

「The outlook remains uncertain amid concerns over rising geopolitical risks in East Asia and the impact of US policy developments on the Japanese economy.」

「The outlook remains uncertain amid concerns over rising geopolitical risks in East Asia and the impact of US policy developments on the Japanese economy.」

「During the first quarter of the fiscal year, Japan's economy was on a gradual recovery path, supported by improvements in corporate earnings and the employment and income environment. However, the outlook for the global economy remained uncertain due to concerns over US policy developments and the political situation in Europe.」

「Although the global economy faces concerns over the situation in the Middle East, economic downside risks in China and other Asian countries, and the impact on financial and capital markets of the UK's departure from the EU, the policies of the new US administration remain highly uncertain. The outlook therefore remains uncertain.」

「The outlook remains uncertain due to concerns over economic downside risks in China and other Asian countries, the impact on financial and capital markets of the UK's departure from the EU, and the impact of the transition to a new administration in the United States.」

「Meanwhile, the global economy remains unstable due to factors including the slowdown in emerging-market economies, particularly China, and instability in financial markets stemming from the UK's departure from the EU. The outlook has become even more uncertain, partly because of the rapid appreciation of the yen.」