Japan’s long-term trend of population decline has made it essential to embrace both technology and global markets.
Social structures and labor market conditions contribute to low birthrates and government policies have so far failed to reverse the trend. The real challenge is how to adjust to demographic change — and whether Japan can find a silver lining in its graying society.
Looking outward to world markets for economic opportunity was a successful strategy during the Meiji Era (1868-1912) of opening to the West and again in the postwar recovery. Once more, turning outward can strengthen Japan. The harder step will be opening inward to accept more immigration, the most direct answer to demographic decline.
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