Stronger yen, slowdown in China and emerging markets, and geopolitical uncertainty

「The outlook for the global economy is expected to remain uncertain due to developments in U.S. trade policy, the slowdown in the Chinese economy and continuing geopolitical risks centered on Europe and the Middle East.」

「Geopolitical risks, particularly in Europe and the Middle East, also appear likely to increase further.」

「In the global economy, concerns are growing over a worldwide deterioration in economic conditions as the impact of high-tariff policies under the new U.S. administration, the sluggish Chinese economy and geopolitical risks in Europe and the Middle East persist.」

「The global economy is also stagnating, and uncertainty over the outlook continues amid rising geopolitical risks and the slowdown in the Chinese economy.」

「In the global economy, concerns are mounting over a slowdown caused by persistent inflation and high interest rate policies in the United States and stagnation in the Chinese economy.」

「The possibility of a global recession remains due to the protracted situation involving Ukraine, monetary tightening in the United States and Europe and China’s non-performing loan problem, raising concerns about the impact on Japan.」

「In the global economy, concerns are growing that the economy will slow due to the protracted situation involving Ukraine, persistent inflation and monetary tightening.」

「In the global economy, concerns over an economic slowdown remain due to the protracted situation involving Ukraine and persistent inflation.」

「In the global economy, concerns over a recession are increasing due to the protracted situation involving Ukraine, stagnation in China’s economic activity resulting from its zero-COVID policy and policy rate hikes in the United States and Europe to contain inflation.」

「The outlook for the economy remains uncertain as price increases have spread across a broad range of areas, compounded by the historically rapid depreciation of the yen and the protracted situation involving Russia and Ukraine.」

「The economic outlook remains uncertain due to the impact of soaring global resource and raw-material prices against a backdrop of the rapid depreciation of the yen and Russia’s invasion of Ukraine.」

「The situation remains unpredictable as concerns over the renewed spread of COVID-19 infections persist and the economy slows amid increasing uncertainty in the global situation.」

「The outlook has again become uncertain due to the rapid global spread of infections involving the Omicron variant of COVID-19 since the end of the year and rising prices for imported raw materials.」

「The Chinese economy, which had been performing well since July, slowed and the U.S. economy also began to show signs of weakness. In addition, the semiconductor shortage became more severe and the renewed spread of COVID-19 infections in Southeast Asia disrupted parts supplies, causing production and exports, particularly in the automotive sector, to slow.」

「As the timing of the end of the COVID-19 pandemic remains unforeseeable, the overall outlook continues to be uncertain.」

「Since January of this year, inbound demand has declined rapidly due to the impact of the novel coronavirus, which originated in Wuhan, China, and spread worldwide.」

「During the first 3 quarters of the current fiscal year, production activity in Japan’s manufacturing sector declined due to the slowdown in the Chinese economy and the impact of Typhoon No. 19, although」

「However, domestic manufacturers saw production and shipments slow as external demand contracted, mainly due to the prolonged U.S.-China trade war.」

「However, exports and production showed signs of weakening due to the impact of the U.S.-China trade war and the economic slowdown in emerging markets and Europe,」

「However, concerns emerged that the economy could lose momentum as production and exports slowed from the summer onward due to a series of natural disasters and the expanding impact of the U.S.-China trade war.」

「However, capital investment, which had been one of the key drivers of the Japanese economy, has recently slowed rapidly due to the impact of the slowdown in the Chinese economy brought to the fore by the U.S.-China trade war.」

「During the first 2 quarters of the current fiscal year, production and exports in Japan slowed due to the U.S.-China trade war, geopolitical risks in the Middle East, soaring crude oil prices, severe labor shortages and a series of natural disasters, although ... the economy continued to expand moderately.」

「During the current consolidated fiscal year, corporate earnings, particularly in the manufacturing sector, grew steadily as the global economy generally performed well, despite concerns over geopolitical risks on the Korean Peninsula and in the Middle East.」

「During the first 3 quarters of the current fiscal year, the Japanese economy saw a substantial increase in corporate earnings as the global economy generally remained firm despite concerns over geopolitical risks on the Korean Peninsula and in the Middle East. Capital investment also recovered, led by labor-saving investment, and the economy is in its second-longest period of expansion since the end of World War II.」

「However, uncertainty in the global economy has increased due to the slowdown in the Chinese economy, the issue of the United Kingdom’s withdrawal from the EU and the policies of the new U.S. president.」

「However, the earnings of major export-related companies slowed due to the stronger yen, the slowdown in the Chinese economy and the issue of the United Kingdom’s withdrawal from the EU, while ... the economy as a whole was mired in stagnation.」

「The stronger yen since the beginning of the year has begun to weigh on the earnings of major export-related companies, while the slowdown in China and emerging markets and political instability in the Middle East and Europe have increased the sense of stagnation, making the outlook increasingly uncertain.」