Given the sluggishness in the economies of industrialized countries, it is necessary for Japanese firms to reach out to consumers in emerging economies, which have a rapidly expanding middle class.
Developments in the share of Japan’s exports during the 2000-2009 period show that the U.S. share decreased by almost half, from 29.7 percent to 16.1 percent, while that of China trebled from 6.3 percent to 18.9 percent, making China Japan’s largest trading partner in terms of both exports and imports.