At present, many countries around the world are facing the risk of increasing inflationary pressures. However, among the major economies, Japan has experienced a deflationary trend. Prices continue to fall, and young people only buy necessities.
According to CCTV reports, in fact, Japan has been in a state of long-term deflation or low inflation since 2001, and the young people who grew up in this period are therefore called the "deflationary generation."
Due to the lack of inflation expectations, overall social consumption has shrunk, leading to a decline in corporate income and a decline in personal income, further aggravating the consumption downturn, and triggering a vicious circle.
Japan's GDP has been hovering around 500 trillion yen (approximately RMB 29.5 trillion) for a long time since the late 1990s. The economic downturn accompanied by deflation has shaped the sluggish consumption pattern of Japan's "deflationary generation".
Some young people said in an interview that every time they go to school, they will make a box lunch at home in advance instead of buying the finished box lunch sold in supermarkets or convenience stores.
"I don't have anything I want to buy now. I basically buy some necessities every month. I feel that my income will decrease in the future and I hope to rise again."
l Source: Fast Technology
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