Japan needs to carry out further structural reforms to take greater advantage of economic globalization, according to the government's annual white paper on the economy.
To date, Japan has obtained globalization benefits by "going out" to the world, rather than by "receiving" other participants of the global economy, says the white paper for fiscal 2004, released Friday.
It is desirable that Japan open itself through structural reforms to take further advantage of the benefits of the global economy, it says.