How the Middle East conflict is affecting Japan's economy

Japanese businesses from truckers to public bathous are suffering as a result of Iran's blockage of the Strait of Hormuz. The Middle East conflict is hurting the world's fifth largest economy, straining its supplies of refined petroleum products. Japan sources more than 90% of its crude oil from the region.Thousands of businesses are grappling with a commodity price shock that is threatening factory closes, raising prices for consumers, and halting wage hikes that help drive consumption growth. Prime Minist ...