Yomiuri Shimbun’s legal office chief, Mitsuo Miura, has a caustic critique of the status quo in Japan. I agree wholeheartedly from abroad.
It makes one wonder what Japan and the Japanese could do if it was as unfettered as other Western nations…
With the rapidly accelerating globalization of business activities, money, labor, intellectual resources and even corporate entities have been pulling out of Japan in pursuit of systems that are easier to use.
That is, the nation’s economic resources have been seeking places where economic regulations are few, where financial systems are flexible, where entrepreneurs can easily create new businesses and where rules for competition and business practices are transparent.
Japan’s excessive ratio of outflows to inflows is not limited to goods, but also includes investment funds.
In addition, the number of people departing the country on sight-seeing and other trips stands at 15 million a year, while the number of people visiting from other countries about one-fourth this figure.
On top of this, a brain drain of researchers and students to the United States and Europe has been continuing for years.
Japanese going to the United States to study have numbered about 45,000 annually, compared with the 2,000 or so people from the United States who come here to study each year.
Businesses, for their part, are shifting their production bases from Japan to countries where labor and other production costs are low and their business activities can easily be expanded.
In addition, corporate capital investments are fleeing to overseas destinations, where the costs of starting up new businesses are lower, and making tie-ups with foreign businesses is far easier.
This being the case, it is not inconceivable that in the future, a number of Japanese companies may even shift their headquarters abroad.