The nation's economic policymakers may get some encouragement from a new report by a government think tank in Australia that urges its companies to take another look at potential business opportunities that are emerging with Tokyo's reform efforts.
The 494-page report, titled "A New Japan? -- Change in Asia's Megamarket," was released June 11 by the East Asia Analytical Unit of the Department of Foreign Affairs and Trade. It is intended to assess the ongoing social, economic and political changes in Japan and possible implications for Australia.
It encourages Australian firms to look at Japan, which "can be a very rewarding place to do business for those companies prepared to make an effort to understand the market, the business environment and the factors driving change in society and the economy." Describing Japan as Australia's "most significant trading partner for three decades," the report calls Tokyo Canberra's "strongest and most consistent supporter in the Asian region" in political terms as well.