Aging Population & Pension Sustainability

As Japan’s population ages, the sustainability of its pension system is a growing concern. Learn more about potential reforms in the works. #PensionChallenges #Retirement #JapanReform

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Kavan Choksi: Will Japan's Tourism Sector Recover in 2023?

Kavan Choksi on Japan's Relaxed Policies for Foreign Tourists Tourism is one of Japan's strongest industries. Millions of foreign travelers flock to the country to explore its cultural heritage and futuristic cities. According to Kavan Choksi, the lockdowns from 2020 have affected global tourism greatly. While Japan reopened to travelers in 2022, strict requirements have brought fewer travelers compared to its pre-pandemic figures. The Prime Minister has announced the end of stringent travel measures that started in October 2022. With this, the industry expects the effects of "revenge travel" from people worldwide. This move aims to help the tourism industry and many parts of the economy. Easing border restrictions also means more investors can come into the country. As the industry reopens, many citizens will again find work opportunities. Workers in the tourism, hospitality, and food industries might experience a surge in customers. A boost in tourism means a boo...

Kavan Choksi on the Agricultural Problem of Japan

Japan boasted a robust agricultural market during the imperial period. It had vast fields of crops and livestock, which traders distributed to local merchants nationwide. After the war, Japan shifted its focus to industrial developments. Image source: https://pxhere.com/ Although the industrial revolution paved the way for Japan's advanced technologies, Kavan Choksi shares that it also crippled the agricultural sector. As decades passed, Japan began importing more food resources. Statistics show that the country's self-sufficiency ratio plummeted to 37% in 2020. Japan's Weakening Agricultural Sectors Japan's agricultural sectors started declining in the 1960s. The Agricultural Basic Law passed in 1961 incentivized farmers to work full time with tax breaks and government subsidies. However, the problem is that most farmers worked part-time. They usually just worked on the weekends or after work, so the reformed laws didn't yield many benefits. The Rapidly Agin...

Kavan Choksi on Japan’s Decision to Halt Importation of Luxury Cars to Russia

The Japanese trade ministry made headlines last March 2022 when it announced it would halt the importation of luxury cars to Russia. Kavan Choksi shares that this decision adheres to the Japanese sanctions against the Ukraine invasion. The ban formally took effect in the first week of April, but the ministry has yet to decide on a duration. The Ban on Luxury Car Importation Japan ranks among the largest exporters in the automotive industry, so the ministry could have stopped exporting a broader range of vehicles. Why did it limit its sanctions to luxury cars? Kavan Choksi shares that the ministry understands the severe economic impact of halting all automotive exports, both for Russia and Japan. Innocent civilians will suffer the consequences. Car prices are already high, and halting exportations will only worsen the supply-chain disruption. On the contrary, the luxury car market (i.e., units upward of $49,200) constitutes a small percentage of automotive exports. Cutting ...

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