Firing the Fourth Arrow: The Private Sector and the Future of Japan
VIEW EVENT DETAILSAfter two decades of economic stagnation, Japan is in the process of reinvention amid ongoing economic reform and aggressive central bank easing. While the prospects of Prime Minister Abe’s reform program remain uncertain, Japan also faces demographic challenges of historic proportions. The country’s population has declined since 2011, with those aged 65 or over comprising a quarter of all citizens since 2013. Meanwhile, Japan’s workforce is shrinking while its productivity gap against the United States worsens: as of 2011, the productivity gap stood at 29 percent and, if left unchecked, will widen to 37 percent in 2025.
In its new report, The Future of Japan: Reigniting Productivity and Growth, the McKinsey Global Institute argues that Japan’s private sector should take the lead and fire a “fourth arrow” of economic reforms: Japanese companies should step into the gap to spur a profound transformation in Japan’s labor and capital productivity, institute global best practices, deploy new technologies, and introduce greater competition. Join ASNC and the Federal Reserve Bank of San Francisco for an expert panel discussion on how Japan’s corporate sector can fire this “fourth arrow” to spur Japan’s economic prospects.
**Advanced registration required by June 3. Limited seating available!**
Speakers:
Michael Chui, Partner, McKinsey Global Institute
Sean Creehan (Moderator), Japan Analyst, Country Analysis Unit, Federal Reserve Bank of San Francisco
Takeo Hoshi, Senior Fellow in Japanese Studies, Freeman Spogli Institute for International Studies, Stanford University
Tasuku Kuwabara, Partner, McKinsey & Company
Additional speakers TBD
Program Agenda:
11:45 – 12:00 p.m. Registration
12:00 – 12:30 p.m. Networking Lunch
12:30 – 2:00 p.m. Panel Discussion and Q&A
Co-organized in partnership with the San Francisco Federal Reserve Bank
Co-sponsors: Bay Area Council; California-Asia Business Council; Center for Japanese Studies, U.C. Berkeley; CFA Society of San Francisco; Japan Policy Research Institute; Japan Society of Northern California