Economic superpower faked stats for years

[Piotr]

Economic superpower faked stats for years
16 Dec, 2021 13:01

© Getty Images / ooyoo

The Japanese government has tampered with official statistics for years, the country’s prime minister has admitted. It's a blow to the credibility of data that investors rely on and brings into question Japan's claimed GDP.
Prime Minister Fumio Kishida confirmed on Wednesday allegations made by the Asahi Shimbun newspaper that for years, the government overstated the value of some construction orders received from building companies.
The newspaper reported that the infrastructure ministry instructed local government officials to inflate construction contract figures for the past eight years, a possibly illegal act that may have distorted key economic statistics of the world's third largest economy.


The Asahi Shimbun cites several ministry sources as saying that about 10,000 reports were rewritten every year.

“It is regrettable that such a thing has happened,” said the prime minister, promising to examine what steps could be taken to avoid such an incident from happening again.

The government has announced it will set up a third-party committee to investigate the misreporting of the data and present the findings within a month.

According to the Ministry of Land, Infrastructure, Transport and Tourism, total construction contracts in 2020 reached 79.598 trillion yen ($700 billion).

The scandal has led to some opposition lawmakers questioning the validity of the government's economic policy, as the rewritten data is used to estimate Japan's gross domestic product (GDP).

Economy Minister Daishiro Yamagiwa, however, downplayed the concerns, saying any impact on GDP data was likely to be small.

Doubts about government statistics were raised in Japan before, when a flaw was discovered in the health ministry’s wage data in 2018.

https://www.rt.com/business/543385-economic-superpower-faked-stats/

This Japanese fraud is nothing in comparison with US fraud. You ain't seen nothing yet.
US market is going to crash next year.

 

[mhosein]

Japan had lost its shine around the 1990s. The straw that broke the camel's back, was the 1997 Asian Financial Crisis. And yes, American economy is based on a fraudulent monetary system and an economic model of capitalism that mutated into what we see today.

 

[Piotr]

Japan had lost its shine around the 1990s. The straw that broke the camel's back, was the 1997 Asian Financial Crisis. And yes, American economy is based on a fraudulent monetary system and an economic model of capitalism that mutated into what we see today.

Japan had lost its shine with US imposed Plaza Accord in 1985.

But of course 1997 Asian Financial Crisis fomented by Anglosaxon Empire of Evil and their agent - son of satan - Soros weakened Japan further.

 

[Hamartia Antidote]

Japan had lost its shine with US imposed Plaza Accord in 1985.

But of course 1997 Asian Financial Crisis fomented by Anglosaxon Empire of Evil and their agent - son of satan - Soros weakened Japan further.

No when it switched from Made in Japan to Made in Mexico in the mid 1980's is when things went to hell.

A "Made in Mexico" XBR Television is an example how Sony's quality took a complete nosedive after they started offshoring manufacturing. That reputation hit transformed the company from being #1 to basically a nobody (other than PlayStations).

Plus things like the lucrative stereo electronics market died when stereo sound became common in tvs.

 

[tower9]

Japan had lost its shine with US imposed Plaza Accord in 1985.

But of course 1997 Asian Financial Crisis fomented by Anglosaxon Empire of Evil and their agent - son of satan - Soros weakened Japan further.

Tokyo is stuck in the year 1999 but weaboos will go on and on about “OMG Japan is living in the future!” With their 80s era infrastructure, flip phones and fax machines. Lmao

 

[Leishangthem]

The fact that a nation with 120 million population and no resources has bigger economy than 1.4 billion India already speak volumes.And they managed it all by rising from the ashes after ww2 in an eta of absolute domination by the West ,and no precedent to follow but to carve their own path and be the precedent of other other asian economies,truely the sole pivot nation for asian development and freedom from western colonialism.

 

[Stranagor]

Japan had lost its shine around the 1990s. The straw that broke the camel's back, was the 1997 Asian Financial Crisis. And yes, American economy is based on a fraudulent monetary system and an economic model of capitalism that mutated into what we see today.

I think AFC hit some SEA countries and SK the most. Japan, much as China, was spared. As Piotr says, what broke Japan's economic backbone was the imposition of the Plaza Accord. By then, in the US, Japan was already vilified, demonized, ridiculed, and subject to racist insuniations by the US regime and regime media.

Japan declined because it has never been politically free since 1945.

 

[Piotr]

No when it switched from Made in Japan to Made in China or Made in Mexico that's when things went to hell. An example is how Sony's quality took a complete nosedive after they started offshoring manufacturing. That reputation hit transformed the company from being #1 to basically a nobody.

USA, not Mexico or China, put Japanese living in the so called USA into US death camps in 1940s.
USA, not Mexico or China, droped atomic bombs on Hiroshima and Nagasaki.
US soldiers, not Mexico or China, raped women and children in Japan.
USA, not Mexico or China, forced Plaza Accord on Japan.

I think AFC hit some SEA countries and SK the most. Japan, much as China, was spared. As Piotr says, what broke Japan's economic backbone was the imposition of the Plaza Accord. By then, in the US, Japan was already vilified, demonized, ridiculed, and subject to racist insuniations by the US regime and regime media.

Japan declined because it has never been politically free since 1945.

Japan eventually payed the prize for being under US occupation. In the long run it never pays off to be ally of Anglosaxons. They always backstab their "allies".

 

[Hamartia Antidote]

USA, not Mexico or China, put Japanese living in the so called USA into US death camps in 1940s.
USA, not Mexico or China, droped atomic bombs on Hiroshima and Nagasaki.
US soldiers, not Mexico or China, raped women and children in Japan.
USA, not Mexico or China, forced Plaza Accord on Japan.

uh huh..not sure what this has to do with the OP...

Other than Poland and Iran being footmats for various countries to wipe their shoes on what else are you well-known for...

 

[FairAndUnbiased]

uh huh..not sure what this has to do with the OP...

Other than Poland and Iran being footmats for various countries to wipe their shoes on what else are you well-known for...

isn't Poland a core NATO US ally? that's what you really think of US allies?

I hope all muricans make these thoughts loud and clear for our European friends.

 

[aziqbal]

Tokyo is stuck in the year 1999 but weaboos will go on and on about “OMG Japan is living in the future!” With their 80s era infrastructure, flip phones and fax machines. Lmao

and yet Japanese loans fed China in 1990s

dont bite the hand that feeds you

 

[Hamartia Antidote]

isn't Poland a core NATO US ally? that's what you really think of US allies?

I hope all muricans make these thoughts loud and clear for our European friends.

Isn't North Korea an ally of China yet Chinese here keep calling somebody a fat #$$%!

I know as Chinese you are required to be part of the Borg collective and parrot the official party line but I don't have to. I can say anything without fear of being sent to a Uighur type re-education camp.

 

[FairAndUnbiased]

Isn't North Korea an ally of China yet Chinese here keep calling somebody a fat #$$%!

I know as Chinese you are required to be part of the Borg collective and parrot the official party line but I don't have to.

What's wrong with calling their president fat? It's factually true. It's like a nickname for an old friend. And he's just one guy.

Calling an entire country a doormat is 100% insulting in any culture.

 

[Brainsucker]

Tokyo is stuck in the year 1999 but weaboos will go on and on about “OMG Japan is living in the future!” With their 80s era infrastructure, flip phones and fax machines. Lmao

To be fair, there is no point of demolish your infrastructure every year just because you want new ones.

 

[REhorror]

Really a shame, but at least they admit it.
I always feel like GDP doesn't really matter anyhow.