Opinion: Japan’s next Olympic games

Haoran+Li+is+a+junior+communications+studies+major+and+a+columnist+for+the+Daily+Kent+Stater.+He+can+be+reached+at+hli28%40kent.edu.

Haoran Li is a junior communications studies major and a columnist for the Daily Kent Stater. He can be reached at [email protected]

Haoran Li

International Olympic Committee inspectors concluded their first meetings with organizers of the 2020 Tokyo Olympics and said they were impressed with preparations for the games and inclusion of women on the board on Friday April 5.

It seems Japan is on the way to offer an amazing games to the world. What are some ways Japan can benefit from the 2020 Olympic Games? We can analyze some nuanced factors to better understand this issue.

Actually, since 2007, Japan’s political and economic climates — including its domestic finances and its relations with China and South Korea —have suffered.

Since Shinzo Abe became the prime minister of Japan, he has implemented economic policies, called Abenomics, after his quantitative easing monetary policy, which is focused on reviving an economy that has been stagnant for 20 years.”

Although it seems good for Japan’s economy in the short term, it may not work in the long term because it is based on government intervention in which the economy will not recover by driving the market, but rather by national investment.

According to The Economist on April 5, “The country’s GDP could shrink by as much as 4.1 percent [annualized] in the second quarter ”

Will Japan’s economy recover? Many experts have this doubt. As Japan became the host city of the 2020 Olympics, there are some who think it may change investors’ attitude toward Japan, even though Abenomics is based upon government intervention.

It might be a good beginning for Abe to adjust his economic policies as well. In hosting these Olympics, Japan can rebuild its infrastructure, including its railways and highways. It will also help Japan earn more money through its tourism industry. Some say it will help Japan improve its average 1.1 percent GDP every year from now to 2020. If that is true, it will probably help Japan develop faster than the previous 20 years.

This could also be a chance for Japan to rebuild its status as a major economic power in the world. China surprised the world and became the second largest economy in the world in 2010.

Furthermore, Russia’s Sochi Winter Olympic Games used this chance to show it will return to a great power successfully, and gained international praise. China and Russia have shocked the world, and how Japan finds a way to have the same effect will be a question to the Japanese government.

After six years, Japan will not only show the world its abilities to hold the Olympics, but also show its national economic strength to America, China and the world.

There is no doubt that people will compare the 2008 Olympic Games with the 2020 Olympic Games. If Japan cannot give a compelling impression to foreigners, it will be an embarrassing situation for Japan.

China’s GDP may overtake America’s within 10 years, according to The Economist. If so, Japan will not only face an embarrassing situation but also lose its status in Asia if it cannot provide an amazing Olympic Games.