In my view, primary reason is that, despite rapid aging, Japan’s economy has not been sufficiently equipped with power to quickly gauge changes in the demand structure and foster new industries.
Given further population aging in the future and high-level government debt, Japan’s economy is faced with an imminent challenge of becoming serious about strengthening medium- to long-term growth potential while promoting fiscal structural reform. Strengthen growth potential by a two-pronged strategy of external and domestic demand Strengthening medium- to long-term growth potential is not an easy task.