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Scrapping the Tokyo Olympics would inflict further damage on a Japanese economy already teetering on the brink of a double-dip recession, according to economists. While Prime Minister Yoshihide Suga insists the games will go ahead, he looks set to extend a virus emergency until the middle of June, barely a month before the Olympics are due to start. Analysts factoring in a longer emergency now see a larger chance of Japan suffering a second straight quarterly contraction. A last-minute ditching of the games on top of an extended emergency would inflict extra pain on the economy, slowing a hoped-for recovery in the summer and knocking back growth this year by as much as 1.7 percentage point, according to Bloomberg Economics’ Yuki Masujima.

Asahi shimbunYuki masujimaYoshihide sugaToshihiro nagahamaKazuma maedaDai ichi life research instituteTakahide kiuchi at nomura research institute ltdTokyo olympicsPrime minister yoshihide sugaBloomberg economic yukiDai ichi life researchTakahide kiuchiNomura research institute ltdBarclays securitiesDouble dip recessionTokyo olympics