JAPAN FINANCIAL FORUM
Firing the Fourth Arrow: Role of the Private Sector and the Future of Japan
After two decades of economic stagnation, Japan is in the process of reinvention amid ongoing economic reform and aggressive central bank easing. While the prospects of Prime Minister Abe’s reform program remain uncertain, Japan also faces demographic challenges of historic proportions. The country’s population has declined since 2011, with those aged 65 or over comprising a quarter of all citizens since 2013. Meanwhile, Japan’s workforce is shrinking while its productivity gap against the United States worsens: as of 2011, the productivity gap stood at 29 percent and, if left unchecked, will widen to 37 percent in 2025. In its new report, The Future of Japan: Reigniting Productive and Growth, the McKinsey Global Institute argues that Japan’s private sector should take the lead and fire a “fourth arrow” of economic reforms: Japanese companies should step into the gap to spur a profound transformation in Japan’s labor and capital productivity, institute global best practices, deploy new technologies, and introduce greater competition.
Join the Asia Society, the Japan Society, and the Federal Reserve Bank of San Francisco for an expert panel discussion on how Japan’s corporate sector can fire this “fourth arrow” to spur Japan’s economic prospects.
Advanced registration is required to participate in the event. Registration is not complete until payment is processed. Completed registrations are non-transferable and non-refundable after June 3, 2015.
For check-in, please bring a photo ID and note that cameras are not allowed on premises for security purposes.