Institution: If the Middle East conflict continues, the Japanese economy is unlikely to avoid a downturn

```htmlGolden Ten Data reported on May 21 that Takeshi Minami, economist at the Central Agricultural and Forestry Treasury Research Institute, stated that if the Middle East conflict continues, even if Japan's crude oil supply can be secured until early 2027, it will be difficult for the Japanese economy to avoid a downturn. He noted that this conflict could trigger adverse effects through various channels, including economic contraction in emerging markets and a sharp rise in inflationary pressures. Japan has ample oil reserves and is also working to secure oil imports via routes that bypass the Strait of Hormuz.```