At the so-called "Davos Conference," which gathers leaders of the world's political and business circles, discussions were held on Japan's economic revitalization, and participants from Japan and overseas presented the need for deregulation and countermeasures such as raising wages.

At the annual meeting of the World Economic Forum in Davos, eastern Switzerland, commonly known as the "Davos Conference," a session titled "The Road to Revitalizing the Japanese Economy" was held on the 18th.

Participants included Minister of Economy, Trade and Industry Nishimura, Suntory Holdings President Takeshi Niinami, and former Australian Foreign Minister Julie Bishop, who discussed issues and countermeasures.

In this, Minister Nishimura said, "We should work on diversifying the economy. We must change the old constitution of the Japanese economy."

In addition, President Niinami said that Japan has suffered from a disease that should be called the status quo disease in the 30 years of stagnation. pointed out.

On the other hand, former Foreign Minister Bishop of Australia said, "Japan should stop protectionist policies such as government subsidies," after mentioning that his country has pushed for deregulation.

He also called for further promotion of women's empowerment, stating, "A country cannot reach its full potential unless it accepts the talents and ideas of all its citizens."

Davos Meeting Challenges of the Japanese economy [Interview with former Australian Foreign Minister]

Competitiveness Japan declining year by year

Japan's competitiveness in the global economy is declining year by year.

According to last year's Global Competitiveness Rankings released by the Swiss business school IMD, among the 63 countries and regions surveyed, Japan fell three places from the previous year to 34th, a record low, along with 2020. .

This ranking is based on the economic situation, business, government efficiency, etc. Japan maintained the first place for four years from 1989 to 1992, but since then it has continued to decline. increase.

1st place is Denmark, 2nd place is Switzerland, 3rd place is Singapore.

The United States is 10th, Germany is 15th, China is 17th, and South Korea is 27th.