Today, the World Economic Forum updated the Global Competitiveness Report. Japan has received better assessment of the 6th best competitive economy; the previous report gave the country the 8th rank.
The figures in the report indicate that the state of the Japanese business and innovation is brilliant but the economic sophistication is overshadowed by the government inefficiency. The too heavy burden hampers the Japanese market to grow faster. We all agree that social security is important, but the engine of the economy, which is the source of the social security, should be market trading. Why doesn’t it look at its efficiency?
The statistics of Japanese economy is usually gloomy these days. We should try harder to regain the central position of Asian economy. I hope the government stay stable against the political turbulence. The government and the citizens have no time to keep looking inward. The global economy is incessantly moving.