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As in the past, the World Economic Forum published the Global Competitiveness Report 2019.  Media (mainly Japanese) reported that Singapore is ranked No. 1 and Japan’s rank down by one (from 5 to 6)  What caught my attention related to the report is that productivity has NOT made progress recent years despite the massive injection of liquidity by central banks,, as reported by NY Times among others. The article by K. Schwab and S. Zahidi indicates that conventional policies (emphasis on monetary policies, for example) does not function any more, and new approach is needed.

Several key messages from the report include: “environmental and sustainability agendas cannot be pursued separately from economic success – they must be fully integrated.” and “the premium index places on agility and adaptability, on human capital, and on innovation,”

 As for innovation, however, “Just innovating isn’t enough. Talent adaptability must keep pace, with countries like Korea, Italy, France and Japan needing to make sure their skills base is keeping up with their innovation capability. Is the skill base in Japan keeping up with our innovation capability? Judging from the graph showing innovation capability and labour adaptability,  I see clear needs for actions and policies for the skill adaptability.  This is my main concern and the focus of my recent activities.   See this article for details.

 

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