Moreover, I believe that household consumption remains vulnerable, as seen in real private consumption by type in the consumption activity index (CAI) shown in the right-hand graph of Chart 5; although consumption of durable goods and services has been increasing, albeit with fluctuations, that of non-durable goods including food, beverages, and clothes has continued to be sluggish.
For these reforms to be sustainable, it is important that they are even handed as between those who shape the forces of globalization and those who have to adjust to the forces of globalization. EMEs in the global context 2. Before I get to specific issues, let me make a brief comment on EMEs in the global context.