Friday, October 28, 2011

No. 8: Look west! Times have changed (October 28, 2011)

Look West! This is the phrase that Japan has to keep in mind to activate its economy. Under the strong and impressive leadership of the incumbent president, Korea is increasing its presence in the world market quite rapidly. In contrast, Japan is losing its presence as we see from the TV business. Neither Panasonic nor Sony is the biggest TV set manufacturer in the world market. The world leaders are Samsung and LG Electronics of Korea. Under any circumstances, Japan should not hesitate to participate in TPP. Look East! This is the phrase that Mahathir bin Mohamad, Malaysia’s fourth prime minister, used to stimulate the economy of his country. Times have changed. Now the time Japan has to look west. There is no room to place too much importance on consensus. It is totally impossible to work out measures equally acceptable to all people concerned. 

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