Newly-elected Prime Minister Shinzo Abe, the nation's first leader born after World War II, has launched his Cabinet with veteran lawmakers capable of taking the lead -- rather than relying on the bureaucracy -- in the implementation of fresh policy initiatives. Keidanren fully supports Abe's determination to lead the Japanese economy to further growth and prosperity through innovations.
The aging of the Japanese population is accelerating and the birthrate is on the decline. The new administration needs to quickly establish a new Japanese growth model that enables sustained economic growth despite a shrinking population.
The vigor of an economy derives from the free activities of individuals and corporations. During the five years of reforms under Abe's predecessor, Junichiro Koizumi, the Japanese economy survived serious deflationary pressures and regained its original strength. This was made possible by private-sector companies' all-out streamlining efforts, combined with the government's drive for structural reforms to support those efforts.