Products made in Japan have been facing fierce competition from products imported from emerging economies. In the meantime, Japanese workers have been experiencing increased competition from their counterparts in emerging economies through growth in imports and direct investment.
In this initiative, I expect that BAIPHIL will again be one of our key partners. What Lies Ahead: A Challenge to BAIPHIL Ladies and gentlemen, we can always talk of governance at length. The challenge, however, is not in extolling the virtues of good corporate governance. Rather, it is what happens after THAT is the key challenge.