Japan worried about 2020 problem, or life after the Olympics

February 9, 2016

Tokyo, Feb 9: Japan is gearing up for the 2020 Tokyo Olympics with gusto, investing in everything from stadiums to electric cars, and expecting an economic bonanza from a construction frenzy and an influx of visitors.

Olympics

On the face of it, hosting the Olympics is a big win for Japan at a time when its economy seems besieged by intractable problems. The Bank of Japan estimates the economic perk at 30 trillion yen (USD 250 billion), many times even the highest estimate of the costs to prepare for and run the event.

But for some, 2020 is another manifestation of what has been going wrong in Japan for decades. Instead of modernizing the economy and taking other steps to address the powerful headwinds of an aging population and shrinking workforce, the government has turned again to its well-worn playbook of borrow and hope.

Discussion and fears about what Japan can turn to for an economic lifeline after the Olympics have become so commonplace it's even been given a name: the 2020 problem.

Japan "will overstretch itself," William Saito, an entrepreneur and technology expert, said of the spending for the games. "It will quite possibly be the straw that broke the camel's back," he said. "Everyone is predicting that it will be that catalyst."

In his concerns, Saito is joined by a chorus of doomsayers. The title of one recent book screams: "Japanese Land Prices Sink to a Third of Their Value! The Crisis That Comes After the 2020 Tokyo Olympics."

Prophetically, for the naysayers, preparations for the Olympics have already hit big snags. The design of the main stadium has been redone after a public uproar over its cost. The Tokyo Olympics emblem is being redesigned because of plagiarism allegations.

And the organising committee has not disclosed an official estimate of costs, saying it's still trying to figure it out and did not know when such a number would be ready.

It has acknowledged the cost will be considerably higher than the 350 billion yen (USD 3 billion) it gave when the city was bidding.

The dire predictions of what's in store for Japan after the Olympics range from a collapse in property prices to a financial crisis sparked by the weight of the government's debt burden, which is the highest in the industrial world at 234 per cent of gross domestic product.

The time limit for getting that debt under control may be running out, said Kazumasa Oguro, professor of economics at Hosei University.

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June 13,2020

New Delhi, Jun 13: West Indies all-rounder Dwayne Bravo has said that wicket-keeper batsman MS Dhoni is the biggest superstar in cricket and is one of the easiest guys to interact with.

Bravo was doing an Instagram live chat with former Zimbabwe pacer Pommie Mbangwa and it was then that the all-rounder was asked to talk about his stint with Chennai Super Kings (CSK).

"I think a lot of credit for CSK's success has to be given to Dhoni and Fleming, obviously the owners, they trust both Fleming and Dhoni, so there is no outside interference when it comes to decision making, both are very big students of the game, players love MS and it's an environment and franchise that allows you to be you," Bravo told Mbangwa during the chat.

"MS Dhoni is the biggest superstar in cricket and in our team. He was one of the easiest people to interact with, outside of the cricket field, he is like playing video games, his door is open at all times, whenever you talk about the biggest superstar and then you think a person like Dhoni is the most humble of them all. CSK is a special team and we have the most loyal fans," he added.

Bravo has been with the CSK since 2011. He has played a total of 104 matches for the franchise, picking up 121 wickets.

The all-rounder has also managed to win the Purple Cap (most wickets in IPL) two times (2013 and 2015).

CSK has won the IPL thrice (2010, 2011 and 2018) and all the titles have come under the leadership of MS Dhoni.

Thirty-eight-year-old Dhoni has been currently enjoying some time away from the game. He last played competitive cricket during the 2019 World Cup.

Dhoni had to face criticism for his slow batting approach during India's matches in the high-profile game.

This year, Dhoni did not find a place for himself in the BCCI's centrally contracted players list.

The board had released the list of central contract list of players for the period from October 2019 to September 2020.

Dhoni is the only captain to win all major ICC trophies (50-over World Cup, T20 World Cup, and Champions Trophy).

Under his leadership, India also managed to attain the number one ranking in Test cricket.

He would have been leading the Chennai Super Kings (CSK) if the Indian Premier League (IPL) had commenced from March 29.

However, the tournament has been postponed indefinitely due to the coronavirus pandemic.

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May 1,2020

Melbourne, May 1: Reclaiming the top spot in Test cricket has brought smiles back on their faces but Australia coach Justin Langer says beating India in their own den remains the ultimate test and their numero uno status will be put to test when they clash with the Virat Kohli-led team.

After a tumultuous transition phase post the ball-tampering scandal, Australia on Friday displaced India as number one side in Test format but Langer is aware that it does not take long for the situation to change.

"We recognise how fluid these rankings are, but at this time it was certainly nice to put a smile on our faces," Langer told Cricket Australia website. "We've got lots of work to do to get to be the team that we want to be, but hopefully over the last couple of years not only have we performed well on the field, but also off the field," Langer added.

The former left-handed opener underlined what he felt will be the ultimate test of character.

"Certainly a goal for us has been the World Test Championship ... but ultimately, we have to beat India in India and we've got to beat them when they come back (to Australia).

"You can only judge yourself as being the best if you beat the best and we've got some really tough opposition to come," Langer put his priorities in place. The team he insists needs to get better as now others will come gunning for them.

"Getting to No.1 is a great thing, but when you're No.1, you're always the hunted," Langer said. "We've been the hunters for a while, now we're the hunted and we need to get better and better."

Langer also hoped that white ball team under Aaron Finch will win the World Cup. "I know how hard it is to win World Cups ... everything has to go right. One day, I'd love to see Aaron Finch with all his mates lift that T20 World Cup above his head."

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June 19,2020

Jun 19: The BCCI is open to reviewing its sponsorship policy for the next cycle but has no plans to end its association with current IPL title sponsor Vivo as the money coming in from the Chinese company is helping India's cause and not the other way round, board treasurer Arun Dhumal said on Friday. Anti-China sentiments are running high in India following the border clash between the two countries at Galwan valley earlier this week. The first skirmish at the India-China border in more than four decades left at least 20 Indian soldiers dead. Since then, calls have been made to boycott Chinese products.

But Dhumal said Chinese companies sponsoring an Indian event like the IPL only serve his country's interests.

The BCCI gets Rs 440 crore annually from Vivo and the five-year deal ends in 2022.

"When you talk emotionally, you tend to leave the rationale behind. We have to understand the difference between supporting a Chinese company for a Chinese cause or taking help from Chinese company to support India's cause," Dhumal said.

"When we are allowing Chinese companies to sell their products in India, whatever money they are taking from Indian consumer, they are paying part of it to the BCCI (as brand promotion) and the board is paying 42 per cent tax on that money to the Indian government. So, that is supporting India's cause and not China's," he argued.

Oppo, a mobile phone brand like Vivo, was sponsoring the Indian cricket team until September last year when Bengaluru-based educational technology Byju's start-up replaced the Chinese company.

Dhumal said he is all for reducing dependence on Chinese products but as long as its companies are allowed to do business in India, there is no harm in them sponsoring an Indian brand like the IPL.

"If they are not supporting the IPL, they are likely to take that money back to China. If that money is retained here, we should be happy about it. We are supporting our government with that money (by paying taxes on it)."

"If I am giving a contract to a Chinese company to build a cricket stadium, then I am helping the Chinese economy. GCA built the world's largest cricket stadium at Motera and that contract was given to an Indian company (L&T)," he said.

"Cricketing infrastructure worth thousands of crores was created across country and none of the contract was awarded to a Chinese company."

Dhumal went on to say the BCCI is spoilt for choice when it comes to attracting sponsors, whether Indian or Chinese or from any other nation.

"If that Chinese money is coming to support Indian cricket, we should be okay with it. I am all for banning Chinese products as an individual, we are there to support our government but by getting sponsorship from Chinese company, we are helping India's cause."

"We can get sponsorship money from non-Chinese companies also including Indian firms. We can support our players any way but the idea is when they are allowed to sell their products here, it is better that part of money comes back to the Indian economy."

"The BCCI is not giving money to the Chinese, it is attracting on the contrary. We should make decision based on rationale rather than emotion," he added.

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