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Business leaders vow to revive pandemic-hit economy with innovation

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We need these ojiiisans business leaders to vow to retire by 65 in order to eliminate their old way of thinking and hopefully have courageous new leaders with new ideas and changes to take charge of the country.

15 ( +19 / -4 )

They've been spouting this same guff for the last twenty years with no changes for the better.

24 ( +26 / -2 )

JAL has re-deployed many of its female attendants to be shrine maidens in the countryside. If moves like that don't revive the world's third-largest economy, I'd like to know what will.

18 ( +20 / -2 )

I’m fed up with a Japan that has been standing still for over 30 years../

16 ( +20 / -4 )

Japan's economy, like most modern 1st world economies, is retail driven.

Any solution that does not give the average person more money in their pocket, to spend on their needs and wants, and thus drive the economy, is a failure.

In other words, give people raises, real and significant raises, and the rest will take care of itself.

But that will never happen and so the malaise will continue and the middle class will continue to shrink.

15 ( +16 / -1 )

Gosh, well that puts my mind at ease. Knowing we have thinkers like this at the helm, puts my mind at rest. We don't need to worry about a thing. We just leave it all to Japan's business leaders and they'll sort it out.

(giggles)

15 ( +16 / -1 )

Right. How about Start Ups! And Entrepreneurs and People with a Dream will innovate the economy? If the so called business leaders could have done anything by now, they would have done so. No. We need to look to the young people with big dreams. Depending on the old ways of doing things simple do not work anymore and everyone seems to know this but the so called business leaders.

9 ( +12 / -3 )

I know, let's have a contest to name a new mascot!

17 ( +18 / -1 )

In order to make 2021 "the year of revival from the pandemic," Nakanishi said the key is digital transformation and deregulation, as many sectors such as the administrative, medical and education systems in Japan showed vulnerability due to poor digitalization and rigid regulations amid the pandemic.

All for removing useless bureaucratic red tape but the call for "deregulation" raises the spectre of "disaster capitalism" where a crisis such as the pandemic is used by businesses to push for more corporate tax cuts, welfare and "business friendly" legislation which gives more room for corruption and exploitation.

Akio Mimura, chairman of the Japan Chamber of Commerce and Industry, said the enhancement of productivity is essential for the Japanese economy to grow with its graying population.

Businesses have benefitted greatly from increases in productivity over the last 30 years while returning very little to anyone except their shareholders. Correcting this inverse relationship between corporate productivity and profits and wages, and the disparity between bailouts and subsidies for businesses and paltry social welfare, would do a lot to assist in a post-pandemic economic recovery.

9 ( +11 / -2 )

When the walls of folders in doctor’s offices disappear then we know we have progress.

4 ( +8 / -4 )

Be it from J- govt or Keidanren , think we have heard enough " pledges" in the last few decades to know they mean absolutely...zero.

14 ( +16 / -2 )

I agree with all the criticism here above and I would like to ad some. I wanted a business loan from my bank for My profitable company in Japan so I could hire 4 exes people. SMBC did not even look at the businessplan. Foreigners can never be trusted while banks throw billions at unsustainable companies at the same time.

Taxes for small companies are pure madness and would discourage most wanting to start a new company here. Banks are a sad joke with ridiculous waiting times, procedures, incompetent staff , high fees and zero service.

And Kono San, as long as I need my stamps for 1 procedure, it does not change anything either.

Land”lords” in Japan should be called “ building milkers” with practices unacceptable in civilised countries such as key money, ridiculous deposits and “ guarantor “ companies, owned by the same estate agencies or building owners, a sad excuse for extortion. As is the one month fee for agencies, with no cap, but doing near nothing for their fees.

Making sure Japanese people speak more English instead of less will also contribute significantly.

I have 3 companies and taxes, fees, charges I pay stop me from hiring more people. As do the office rents and charges.

real business men do not need freebees or gifts from government but we want a competitive and fair business environment.

21 ( +22 / -1 )

Be it from J- govt or Keidanren , think we have heard enough " pledges" in the last few decades to know they mean absolutely...zero.

Ah, but this isn't just a pledge... it's a VOW!

They're really serious about it this time!

They've already scheduled two meetings about formulating an agenda to form a focus group to create a slogan for the issue!

11 ( +12 / -1 )

Business leaders vow to revive pandemic-hit economy with innovation

Premium Fridays?

8 ( +9 / -1 )

Businesses have benefitted greatly from increases in productivity over the last 30 years while returning very little to anyone except their shareholders

So you want to go back 30 years to the time when you had no Netflix or Disney streaming, no smartphones, no Amazon or Rakuten, because you got nothing out of voluntary exchange between you and whatever you thought worth paying for?

Go ahead.

-4 ( +3 / -7 )

Obviously, business leaders needs a new slogan.

6 ( +6 / -0 )

Japan typically joins the western business buzzword bandwagon without really understanding the concept after it makes a splash in the West. Think “innovation”, “digital”, “reengineering”, etc. How would a 70 year old oyaji even comprehend what innovation is?

13 ( +13 / -0 )

So you want to go back 30 years to the time when you had no Netflix or Disney streaming, no smartphones, no Amazon or Rakuten,

So the development of smartphones (which can be traced back to Doug Engelbart and his presentation using public funds from Stanford) is because of the productivity-pay gap?

https://www.epi.org/productivity-pay-gap/

It is a non-sequitur.

I would say it rather hurts innovation.

4 ( +5 / -1 )

I agree with all the criticism here above and I would like to ad some. I wanted a business loan from my bank for My profitable company in Japan so I could hire 4 exes people. SMBC did not even look at the businessplan. Foreigners can never be trusted while banks throw billions at unsustainable companies at the same time.

Hi Robert, fellow Belgian here. Does this mean that you are still treated this way despite having PR in Japan? I thought PR changes everything when it comes to loans.

7 ( +7 / -0 )

@Robert Maes

Thanks for explaining how ivory towers have remained like castles with their Daimiyos. It can't be seen but rampant are the oyaji business leaders and their systems violating their employees seen as their work fodder.

Medieval lenses in a modern world.

6 ( +6 / -0 )

@wtfjapan?

I totally agree. These old men with their archaic mentality need to be weeded out of the system for there to be change.

4 ( +4 / -0 )

dagon,

The non-sequitur was your claim that you (as much as you can speak for) as a customer don’t benefit from the voluntary transactions you engage in with various businesses.

in general, if one doesn’t benefit from such a transaction and only the shareholders of those businesses do, why would one be so daft as to enter into such a transaction?

You are communicating via the Internet here, presumably on your own yen (dime?), and you simply wouldn’t do so if you actually believe that shareholders are the only winners from your choice to enter voluntary transactions for web service. No one forced you to.

0 ( +1 / -1 )

if old men want to work they feel like horse power at retirement age, you shouldn't motivate them to stop. Let them keep going.

If Gov makes a rule that everyone has to compulsory retire after 65 or 70, then most will go mentally mad, esp in Asian countries where they keep want to move here and there.

It's the foreigners / Highly educated people / Gaijins want to make everyone sit still after 65.

-7 ( +0 / -7 )

@BackPack: I disagree about your last sentence. I know of no foreigners here or highly educated people that want to stop working at 65. They love working and are good at it.

There is one person though I know well. Me. I loved it but wanted new adventures and financially stable to be free.

And 65 is not old.

2 ( +2 / -0 )

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