Japan in the World
An Inwardly-Focused World and Economic Growth
NOMURA
Trend in world trade volume
2010 average=100
130
120
110
100
90
80
70
170
60
0001 02 03 04 05 06 07 08 09 10 11 121314151617181920 CY
Source: Netherlands Bureau for Economic Policy Analysis (CPB) material
China's shift toward an inward-looking focus is an
important change in direction for the economies
of Japan and other developed regions that are
facing shrinking domestic demand due to aging
populations. Despite China's own shrinking and
aging population, increased difficulty in accessing
the economic demand of over 1 billion
consumers with rising income levels will be a
heavy blow to the economies of developed
regions
Japan and other developed regions should
consider the need to lay out visions for post-
pandemic economic recovery while launching
new growth strategies that do not rely on the
giant Chinese market
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