Japan has no future??

Japan has no future…

Hello guys!!

Well, I, as a Japanese, have to say Japan is facing a crisis situation.

I’m just a 25 years old normal student in Switzerland. Even such an average guy is worried about Japan.

I love Japan and am proud of being Japanese but I see little hope in our country’s future.

Let’s take a look at the reasons why I think so.

1: Current GDP

Currently, Japan is ranked 3rd in GDP and 28th in GDP per capita.  

OK, it doesn’t look bad.

However, the GDP growth rate has been only 2-3 % throughout these 20 years which is by far slower than the global growth. 

We call it “the lost decades”. Sadly, we are just standing upon past glory.

Well, one of the reasons I think is that we missed the IT revolution that started in 1995. Japan had been (too much) relying on the old-fashioned manufacturing industry. 

Then, we couldn’t jump-in into big data and AI things which are now the most developing area.

The game has been changed. 

We should forget the glorious past in the 1980s and see the global situation with a clear mind.

2: Decreasing population & aging

The biggest problem we have is this “labor force problem”.

It is a really simple phenomenon. We live longer but we don’t have children.

Working-age Japanese is expected to drop 30% within the next 30 years.

No economic growth, fewer labor forces, and increasing pressure on taking care of elderlies. 

What should we do?

3: Debt & Tokyo Olympic 

The Japanese government already has a lot of debt which is about double our GDP.

Additionally, we will host the Tokyo Olympics!!

The Olympics only make huge financial damage to the host countries. I don’t want to even think about what happens if it is canceled due to the Coronavirus…

What we will get is debt.

4: People think Japan is OK

We particularly don’t have enough financial literacy and most of us rely on the government and our companies about finances. People just believe in them without thinking by themselves and somehow think Japan is OK.

At the same time, young generations are not seeing the bright future in Japan and also their own future which is the reason why they are not interested in politics.

Yet middle and older generations still remember the 1980s and become conservative.

They want to stick with their old-fashioned style which is no longer useful in the modern world.

5: Natural disasters 

We have typhoons, earthquakes, and active volcanoes like Mt. Fuji. 

These are enough!! 

Once one of them hit Tokyo and completely destroys it, our economy would be badly damaged. 

My opinions and expectations 

1: Should accept immigrants (Swiss, Canada as role-models)

This is a solution to decreasing working-age. Japan can learn a lot of things from Swiss, Canada, and Singapore. They are really good at using other countries’ resources. 

2: Get along with China and SE Asia

Nowadays,  the developing region is definitely Asia (and Africa). There would be a chance for us if we use this situation wisely since we are close to them.

3: The situation is bad but…??

The situation we are facing is the one that most other developed countries will face in the future. If we can overcome this crisis, Japan can be a cool role-model.

Japanese people are hard-working, caring for others, shy but having hospitality and etc. We are unique and these mentalities will be the key to re-boost Japan.

Make Japan cool again.

Thanks for reading.