In contrast to fast-growing Asian economies like China and India, Japan's slow pace of economic reform coupled with its graying population and shrinking workforce is a concern to Western investors.
To stay competitive, Japan must come up with a new strategy for growth by focusing on creative industries, including fashion and design, said John C. Beck, dean of the business school at Globis University in Tokyo and a prominent Japanese business watcher.
Beck was recently appointed dean at Globis, a graduate school that offers master's of business administration programs to midcareer professionals.