With China firmly on its path toward becoming a top player in the world economy, it is crucial for Japan to work out a relationship with its giant neighbor or risk hampering the rise of Asia as a whole, a renowned U.S.-based journalist told a recent lecture meeting in Tokyo.
China and India have become the central players in a new world economic order where the importance of physical location is increasingly being lost due to progress in digital technology, said Fareed Zakaria, editor of Newsweek International.
Economically, Japan -- like the rest of the industrialized world -- will have to move up the value chain while integrating more with the global economy, Zakaria said at the Dec.7 seminar organized by Keizai Koho Center at Keidanren Kaikan.