The nation's graying population will continue to exert downward pressure on the country's economy but some of the associated problems can be addressed by businesses responding to growing overseas demand and other measures, Bank of Japan Gov. Masaaki Shirakawa said Wednesday.
"The current difficulties come not from the continued population aging itself, but from the delayed response to it," Shirakawa said in opening remarks at a conference in Tokyo on demographic changes and macroeconomic performance.
As for possible "remedies," Shirakawa said businesses can grow by meeting the demand in fast-growing emerging economies with exports and foreign direct investment, which would result in a surplus in the income balance.