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Olympics Delay Deals Crushing Blow to Japan’s Comeback Story

  • Hoped-for crowning moment of Abenomics now adds to slump fears
  • Not all analysts convinced that Games will go ahead in 2021
A person takes a photo of floating Olympic rings installed near Odaiba island, Tokyo on March 24.
A person takes a photo of floating Olympic rings installed near Odaiba island, Tokyo on March 24.Photographer: Noriko Hayashi/Bloomberg
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The now-delayed Tokyo 2020 Olympics was supposed to showcase Japan’s recovery after the devastating 2011 earthquake and its economic revival after two-plus decades of anemic growth.

Now, even if the pandemic subsides and the Games proceed next year without a hitch, the event will be tinged with the aftermath of the coronavirus outbreak and an economic recession that laid bare the fragility of Japan’s recent growth.