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 “Make a Clean departure from a “domestic only” mentality and let innovative companies fly free in the world market”

   I wrote a column called Issues and Commentary on Nihon Keizai Shimbun on April 18. nikkei-commentary-08418.pdf

  In that column, I argued:

  -There are two opposing views of Japan at present; one being more global and more current and the other more domestic and based upon the past glory. (See Table for two aspects of Japan.japan08.pdf)

 -These completely different views have made it difficult to uncover the real issues Japan is now faced with and thus develop solutions to resolve them. 

  – The “illusion” that Japan is isolated from the rest of the world, nostalgia for the “good old days of our superior manufacturing” and wishful thinking for Japan’s current and future capability prevents us from facing the real issues and tackling the problems.  
  We should remember that companies in the private sector create the value and wealth of our country and society. Despite the important role of the educational institutions, legislature and administration, neither has a direct means to create value and wealth. Unless we make the pie bigger, there is no point of debating how to slice it up.   

   I recommend three ways or approaches for the companies to rejuvenate and reenergize Japan.

   1) Global niche for globally integrated markets

   2) Better use of Information and Communication Technology (ICT) combined with the Japanese “hospitality”

   3) High aspirations by private sector companies to assist upgrading social infrastructure   

  I propose that we should make a commitment to liberalize innovative companies with high aspirations from traditional bonds and outdated regulations, so that they can fly free in the world market. We should never take unreasonable advantage of companies with excellent track records and world fame and/or find even minor faults with them, just for the sake of putting them down. 

  We have little time for determined action. We should never let “the other world” prevail. Now is the last chance for us to re-create Japan by liberalizing the innovative companies.   

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