Show Navigation

Image 1 of 1

Delano_Japan_Economic_Crisis_005.jpg

Add to Lightbox Download
Toru Senou instructs carpenter remodeling his family's neighborhood appliance shop, which has been forced to change in order to remain viable, Central Tokyo, Japan. By contract, as was the long time practice of local shops, this shop must sell a preset percentage of one major Japanese appliance manufacturer's products. Meanwhile multistorey, big box electronics shops nearby have undercut local appliance shops' prices. As unemployment has risen, exports which dropped 46% in January 2009, the drop in consumer spending has hit small shops all over Japan particularly hard because they simply cannot compete with superstore prices. At this pace, the Japanese economy could shrink 12.7% in 2009.
Copyright
James Whitlow Delano
Image Size
3457x2492 / 2.7MB
Contained in galleries
Crunch Time for Japan, Inc.
Toru Senou instructs carpenter remodeling his family's neighborhood appliance shop, which has been forced to change in order to remain viable, Central Tokyo, Japan. By contract, as was the long time practice of local shops, this shop must sell a preset percentage of one major Japanese appliance manufacturer's products. Meanwhile multistorey, big box electronics shops nearby have undercut local appliance shops' prices. As unemployment has risen, exports which dropped 46% in January 2009, the drop in consumer spending has hit small shops all over Japan particularly hard because they simply cannot compete with superstore prices. At this pace, the Japanese economy could shrink 12.7% in 2009.