Japan and the United States both face a common challenge of showing that their economic models remain relevant even as China increasingly drives global growth, said Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics in Washington.
"Obviously, both of our countries benefit tremendously from economic interaction with China — great market, inexpensive goods, good place to invest," Hufbauer said at the Jan. 28 symposium.
The slow growth of the Japanese and American economies has "nothing to do with China's success," he said, adding that China's successes "are not the explanation for our failures. Our problems are homegrown."