Economy

Abe dismisses pessimism on Japanese financial system with upbeat message

"Japan's defeatism is now defeated," Prime Minister Shinzo Abe proclaimed in a resolutely upbeat presentation to the World Financial Discussion board.

Mr. Abe appeared for the primary time in 5 years attempting to thwart the picture of Japan as an growing older and stagnant society. He unveiled a collection of optimistic statistics on development, funding and labor pressure participation, particularly amongst girls and the aged.

The Japanese Prime Minister sought to cautiously observe the commerce wars initiated by the Trump authorities. He highlighted Japan's willingness to settle commerce disputes by the World Commerce Group and condemned commerce disputes "for one blow". On the identical time, Abe authorised the WTO reform, particularly its guidelines on subsidies.

The Abe authorities's place on commerce will likely be notably essential this yr, as Japan chairs the G20 and holds a summit in Osaka in June. Abe outlined two key priorities for the G20: worldwide governance of knowledge flows and the promotion of technological innovation to fight local weather change and ocean air pollution.

In preparation for Japan's yr within the limelight on the worldwide scene, Mr. Abe selected to ship his speech in English, incorporating a variety of favourite Davos favourite phrases, together with "Globalization four.zero" and "Society 5.zero".

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