In addition, it is necessary to keep an eye on issues such as excess production capacity and excess debt in China, developments in emerging and commodity-exporting countries that face structural problems such as a current account deficit or high inflation, and geopolitical risks emanating from some countries. Thus, there remain various uncertainties regarding the outlook for overseas economies, which all warrant vigilance.
Sustainability of domestic demand Let me next talk about the sustainability of domestic demand, especially the current situation of and outlook for business fixed investment and private consumption (Chart 4). As for business fixed investment, while some argue that increases in investment cannot be expected due partly to the increased relocation of production overseas, recent figures show that investment has grown moderately.