Japan and Germany will celebrate the 150th anniversary of bilateral diplomatic ties in 2011. The first commemorative events will kick-off this October, with the grande finale planned to take place in October 2011 in Yokohama.

Both countries were defeated in World War II but re-emerged strongly from the ashes of war. Over the decades that followed, they became the undisputed economic powerhouses of Asia and Europe. Cooperation and exchange between Japan and Germany has always been intense, whether in economic and political spheres or in culture and science, so there is a lot to celebrate in terms of their common past.

But leaders in both countries may have less reason to celebrate when they realize the huge macro challenges they face in the future.