<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published December 11, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Japan faces a stark choice, says MM Lee
Bring foreigners in or deal with slower economy due to ageing population
By LEE U-WEN
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(SINGAPORE) It's time for Japan to make a choice - either be more accepting of foreigners into its society, or risk dealing with a rapidly ageing and declining population that could hinder its economic progress in the years to come.
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</TD></TR><TR class=caption><TD>Mr Lee: Suggests that documentaries be produced to highlight the severity of the ageing problem in Japan if nothing was done to address it </TD></TR></TBODY></TABLE>This was the stark reality facing the country in the eyes of Singapore Minister Mentor Lee Kuan Yew, who drove home the point yesterday that there was a 'reluctance' by both the Japanese leaders and people to 'dilute and complicate' the society by bringing in people of different cultures and races. 'Japan has to adapt,' said Mr Lee, who was the guest-of-honour at a dialogue to mark the 40th anniversary of the Japanese Chamber of Commerce and Industry in Singapore.
'One of the reasons why Japan is not bouncing back with all these stimulus packages is because their consumer market is down and there is no optimism and buoyancy.'
The hour-long event was moderated by television personality Diana Ser.
'(The elderly) do not consume much. They don't change televisions or cars or golf clubs every year, so your consumer market is down. You've got to depend on exports. But your exports depend on your internal market trying out the products first. It's a vicious cycle,' he told his audience - many of whom were Japanese business leaders - at the Suntec Convention Centre.
Japan's fertility rate stood at 1.37 last year, marginally higher than Singapore's 1.29. But even introducing new measures to encourage more Japanese women to have babies is 'easier said than done', said Mr Lee.
Today, Japan has 3.7 working persons supporting one elderly person. It is estimated that, by 2050, that rate will fall to just 1.2 working persons doing so.
'Who is going to be the nurse or doctor, and who is going to be the one running the economy and supporting these people?' Mr Lee said. 'I think there has to be a radical re-think. It's more difficult for Japan because their population is 127 million. They cannot just bring people in.'
One way for the government - under new prime minister Yukio Hatoyama - to break through the barrier against foreigners is to gradually educate the population, said Mr Lee, who suggested that documentaries could be produced to highlight the severity of the ageing problem if nothing was done to address it.
Turning to the state of the global economy, Mr Lee said that the United States had to recover first because of its status as the world's largest economy and consumer. China, however, is only a quarter the size of the American economy and only 37 per cent of its GDP is consumer-based.
'The Americans want the Chinese to consume more, export less and bring down the exports by upping the renminbi.
'But (China) is scared to do that, because of the fear of riots and unemployment and they will be in trouble.'
Stressing the problem of a 'misalignment of currencies', Mr Lee also drove home the point that Asian currencies could not revalue if China did not do so first.
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Japan faces a stark choice, says MM Lee
Bring foreigners in or deal with slower economy due to ageing population
By LEE U-WEN
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Feedback</TD></TR><TR class=font10><TD colSpan=2><!-- AddThis Button BEGIN -->
<SCRIPT type=text/javascript src="http://s7.addthis.com/js/250/addthis_widget.js#pub=xa-4ae026ba0e05c08d"></SCRIPT><SCRIPT type=text/javascript> var addthis_config = { username: "xa-4ae026ba0e05c08d", services_compact: 'facebook, twitter, favorites, myspace, google, digg, live, delicious, stumbleupon, more', services_exclude: 'print', data_use_flash: false } </SCRIPT> <!-- AddThis Button END --></TD></TR></TBODY></TABLE>(SINGAPORE) It's time for Japan to make a choice - either be more accepting of foreigners into its society, or risk dealing with a rapidly ageing and declining population that could hinder its economic progress in the years to come.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Mr Lee: Suggests that documentaries be produced to highlight the severity of the ageing problem in Japan if nothing was done to address it </TD></TR></TBODY></TABLE>This was the stark reality facing the country in the eyes of Singapore Minister Mentor Lee Kuan Yew, who drove home the point yesterday that there was a 'reluctance' by both the Japanese leaders and people to 'dilute and complicate' the society by bringing in people of different cultures and races. 'Japan has to adapt,' said Mr Lee, who was the guest-of-honour at a dialogue to mark the 40th anniversary of the Japanese Chamber of Commerce and Industry in Singapore.'One of the reasons why Japan is not bouncing back with all these stimulus packages is because their consumer market is down and there is no optimism and buoyancy.'
The hour-long event was moderated by television personality Diana Ser.
'(The elderly) do not consume much. They don't change televisions or cars or golf clubs every year, so your consumer market is down. You've got to depend on exports. But your exports depend on your internal market trying out the products first. It's a vicious cycle,' he told his audience - many of whom were Japanese business leaders - at the Suntec Convention Centre.
Japan's fertility rate stood at 1.37 last year, marginally higher than Singapore's 1.29. But even introducing new measures to encourage more Japanese women to have babies is 'easier said than done', said Mr Lee.
Today, Japan has 3.7 working persons supporting one elderly person. It is estimated that, by 2050, that rate will fall to just 1.2 working persons doing so.
'Who is going to be the nurse or doctor, and who is going to be the one running the economy and supporting these people?' Mr Lee said. 'I think there has to be a radical re-think. It's more difficult for Japan because their population is 127 million. They cannot just bring people in.'
One way for the government - under new prime minister Yukio Hatoyama - to break through the barrier against foreigners is to gradually educate the population, said Mr Lee, who suggested that documentaries could be produced to highlight the severity of the ageing problem if nothing was done to address it.
Turning to the state of the global economy, Mr Lee said that the United States had to recover first because of its status as the world's largest economy and consumer. China, however, is only a quarter the size of the American economy and only 37 per cent of its GDP is consumer-based.
'The Americans want the Chinese to consume more, export less and bring down the exports by upping the renminbi.
'But (China) is scared to do that, because of the fear of riots and unemployment and they will be in trouble.'
Stressing the problem of a 'misalignment of currencies', Mr Lee also drove home the point that Asian currencies could not revalue if China did not do so first.
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