The Argument is a new feature dedicated to promoting dialogue and deeper understanding of contentious issues by introducing various viewpoints.
The consumption tax hike will absolutely chill consumption, slow down the Japanese economy and weaken Abenomics.
While the government has introduced temporary measures, such as a point reward program for cashless payments, to encourage consumption alongside a push toward a cashless society, they are just stopgap measures and too complicated to substantially absorb the shock stemming from the tax hike.