The Japanese economy has contracted for the fourth consecutive quarter. That is a huge chunk of the Japanese economy, consequently of the Asian and Global economies.
Japan is the sick man of the world economy.
Given its size, it will inevitably have debilitating effects on the rest of the world, though especially its neighbours. Japan of course remains immensely. Were the economy to get kick-started, the effects and the benefits would be considerable. There are no signs that any of these three negative forces are being reversed. Japan is wallowing.