From Tea to Tech: Makinohara's Fight for Survival Amid BOJ's Policy Shift

Makinohara, once flourishing on its tea industry, struggles against depopulation and economic disparity as the Bank of Japan raises interest rates. Local businesses, including soy sauce makers and agricultural startups, face challenges in adjusting to the policy shift and a changing economy, while seeking innovative solutions for survival.

In an era of economic transition, Makinohara stands as a testament to Japan's rural struggles, with its once-thriving tea industry now a shadow of its former self. The Bank of Japan's recent monetary policy shifts, led by Governor Kazuo Ueda, aim to stimulate a sluggish economy beset by uneven recovery.

Yet, as interest rates rise, local businesses in Makinohara express concerns about their survival. Interviews conducted by Reuters reveal a town grappling with the impact of policy changes, while some residents see hope in innovative ventures, from banana farming to tech investments, that promise new economic horizons.

The town's fight for revitalization, even as its population dwindles, is echoed in the voices of its citizens who are embracing risk to secure Makinohara's future. With eyes on global markets and local ingenuity, the community symbolizes resilience amidst national economic challenges.

(With inputs from agencies.)