People walk across the Shibuya crossing in Tokyo on January 27. Photo: AP
People walk across the Shibuya crossing in Tokyo on January 27. Photo: AP

Coronavirus state of emergency has the Japanese staying home, hoarding cash

  • As the government prepares to extend the emergency beyond February 7, members of the public are waiting it out – and few are spending money
  • With consumption falling 11.5 per cent in December, businesses are struggling to survive and the economy is taking further blows

People walk across the Shibuya crossing in Tokyo on January 27. Photo: AP
People walk across the Shibuya crossing in Tokyo on January 27. Photo: AP
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