South Korea and Taiwan are likely to outstrip Japan in terms of gross domestic product per capita in a couple of years due to higher productivity and efforts for digitalization.
For Keita Nakamura's latest contributions to The Japan Times, see below:
Daniel Kritenbrink, assistant secretary of state for the region, also said he believes increased defense spending by Japan would "make Asia more secure and more prosperous."
The fiscal consolidation goal has already been pushed back once from the previous target of fiscal 2020.
The plan for the once-in-a-century corporate tax reform crystallized through international negotiations at the Organization for Economic Cooperation and Development.
The job-to-applicant ratio inched down to 1.14 from 1.15 in July, according to the Ministry of Health, Labor and Welfare.
The next leader will be tasked with attending to Japan's fiscal health, which is the worst among major developed countries.
The survey appears to show that more employers are deciding it's better to shift their labor force to nonfixed-term regular workers.
Pretax profits of domestic companies were up 93.9% from the previous year, posting the steepest increase since 2010 during the recovery from the global financial crisis.
Rising for the fifth month in a row, exports totaled ¥7.36 trillion ($67 billion), lifted by robust shipments of cars, auto parts semiconductors and chip-making equipment.
The economic impact of Japan's states of emergency is expected to be smaller as they have become less effective, but consumer spending is expected to remain at a low level.