Loading

Search

:

Japan Business Chief Warns Of Radical Labour Market Shake-Up

  • Category:Other
The world’s post-coronavirus economic future could depend on mass career migration away from sectors such as retail, entertainment and travel, Japan’s most powerful business leader has warned.

Hiroaki Nakanishi, chairman of Hitachi and head of the Keidanren business lobby, told the Financial Times in an interview that propping up businesses during lockdown was not sufficient and governments would need to shift spending away from furloughs towards fundamental economic restructuring.

His comments point to the next stage in the coronavirus crisis, as hopes for a swift recovery dim and temporary lay-offs become permanent redundancies in the worst affected sectors.

“Even if we resolve coronavirus completely, then will our towns be as lively as before?” said Mr Nakanishi. “Just saving struggling companies [won’t be enough] for the economies of Japan or the rest of the world.

“It’s important to think really carefully about how far to encourage people to change jobs. If you assume that the corona pandemic is going to become a long-term thing, then that will be essential.”

Although the historic role of the Keidanren chief has been to protect the interests of corporate Japan, Mr Nakanishi’s comments show a growing acceptance that Covid-19 will cause bankruptcies — and require radical changes to how the country does business.

Mr Nakanishi believes that fiscal support is essential, but as the crisis drags on, governments will have to shift their focus from keeping companies alive to promoting structural changes in the economy.

“Maybe for a year [governments] just do everything they can to help, but if it carries on for two or three years that’s not possible,” he said. As chief executive of Hitachi, Mr Nakanishi became famous for revamping the sprawling conglomerate, merging or selling divisions and improving its financial performance.

As Keidanren chairman, he has been at the heart of Japan’s response to Covid-19, helping to set government policy as well as leading calls for change in working practices. In a sharp break with Japan’s culture of long hours, Keidanren has called on member companies to consider a four-day working week, as well as teleworking and staggered office hours when they reopen, to allow for greater social distancing.

Mr Nakanishi has also said he is not opposed to changing the start of Japan’s school year from March to September, aligning with much of the rest of the northern hemisphere. He stirred controversy, too, when he said the country’s use of physical seals for documents was outdated.

A prominent critic of Japan’s habit of measuring performance by hours spent in the office, Mr Nakanishi said the crisis was accelerating a move towards more flexible working practices.

He gave Japan high marks for its response to Covid-19, saying that authorities had been forced to act with limited information about the nature of the virus. But the wisdom of Japan’s early decision to close schools and introduce voluntary social distancing had been borne out by the low number of coronavirus cases and deaths.

“Looking at the results so far compared with other countries, I think we’ve handled it pretty well,” he said. Japan has had about one death per 200,000 people, compared with rates 100 times higher in the worst affected European countries.

Although Japan has lifted a state of emergency across much of the country, he acknowledged the country’s heavy dependence on a healthy global economy. “Large parts of Japan live off their dealings with the rest of the world, so when we relax restrictions we risk highly unpredictable waves of infection,” Mr Nakanishi said. “We need to prepare for those worst-case scenarios now.”
 

Comment(s) Write comment

jthcr6erh1l what is cialis <a href="http://www.alzlt5.com/space-uid-178030.html">canadian cialis</a> buy viagra online canada [url=http://demo2-ecomm.in.ua/user/dancerpunch1/]discount rx drugs[/url] canada pharmacies online
viagra online shop <a href="https://bvtt-tphcm.org.vn/cau-hoi/just-how-to-buy-prescription-drugs-from-a-canadian-pharmacy-2/">cheap generic viagra online</a> viagra online generic [url=https://driverpoisk.ru/user/turnmark9]order cialis[/url] low price cialis
buy cialis from canada <a href="https://www.js-pai.com/space-uid-557017.html">viagra erections</a> cialis cost [url=https://independent.academia.edu/AlbrektsenHebert]lowest price on cialis[/url] cialis from usa pharmacy
    quz3hvjil2h Web Site
  • September 5, 2022
order cialis online canada [url=http://canadotcphar.com/]list of canada online pharmacies[/url] cialis over the counter canada
viagra 100mg price <a href="http://canadotcphar.com/">canadian pharmacy without prescription</a> canada pharmacy for cialis
    canadian-pharcharmy- Web Site
  • September 5, 2022
getting a prescription online [url=http://canadotcphar.com/]rite aid pharmacies[/url] free viagra pills
viagra from a pharmacy in canada <a href="http://canadotcphar.com/">canada pharmacy cialis</a> viagra online
    canada online pharmacies Web Site
  • September 5, 2022
yeeaz80vatw rx canada <a href="https://www.hulkshare.com/backshake8">best prices for cialis</a> buy canadian drugs without prescription [url=https://p3dm.ru/user/sandgold9/]cialis brand[/url] order medication online
non prescription viagra <a href="http://4backpacking.com/user/turnsubway6">canadian-medications</a> canadian pharmacies viagra [url=https://www.xingshigame.cn/home.php?mod=space&uid=259499]viagra effects on women[/url] online rx
ed meds <a href="http://ezproxy.cityu.edu.hk/login?url=http://canadotcphar.com/">medications from canada</a> natural viagra substitute [url=https://www.metooo.io/u/62fb92c6462a6d715d374fe1]us pharmacy cialis[/url] onlinepharmaciescanada.com
    lne1g0zo3nj Web Site
  • September 5, 2022
free viagra pills [url=http://canadotcphar.com/]online pharmacies in canada[/url] discount viagra
no prescription pharmacy <a href="http://canadotcphar.com/">canada pharmacy for cialis</a> discount viagra
    canadian pharmacy online viagra Web Site
  • September 5, 2022
igfjtn3sn6o pharmacy viagra <a href="https://forum.umbandaeucurto.com/usuario/dancersubway3">canadian online pharmacy viagra</a> viagra buy [url=https://uklianjiang.com/home.php?mod=space&uid=882448]viagra online in canada[/url] natural viagra alternatives
buying viagra online <a href="https://mooc.elte.hu/eportfolios/769777/Home/How_to_Buy_Prescription_Drugs_From_a_Canadian_Pharmacy">viagra women</a> buy generic cialis canadian pharmacy [url=https://menwiki.men/wiki/How_to_Buy_Prescription_Drugs_From_a_Canadian_Pharmacy]alternative to viagra[/url] tadalafil from canada
drugs of canada <a href="http://liumeiti.top/home.php?mod=space&uid=4828815">viagra pills</a> usa pharmacy online [url=http://moscow-forest.ru/user/dogbit0/]viagra natural[/url] buy cheap viagra
    tungz5ho321 Web Site
  • September 5, 2022
jhapay3eaj1 canada for viagra <a href="http://bbs.txzqzb.com/home.php?mod=space&uid=1075289">buy levitra canada</a> cheap viagra for sale [url=https://hikvisiondb.webcam/wiki/Just_How_to_Buy_Prescription_Drugs_From_a_Canadian_Pharmacy]cheap viagra from india[/url] rx canada
canadian drug company <a href="http://hdzypt.com/home.php?mod=space&uid=549248">online canadian pharcharmy</a> viagra free [url=https://lookbook.nu/user/10660176-Panduro-Stiles]cialis in canadian pharmacies[/url] viagra free trial
viagra substitute <a href="http://01color.com/home.php?mod=space&uid=106496">cheap viagra uk</a> does generic viagra work [url=http://lrmoli.com/home.php?mod=space&uid=97103]canadadrugstoresonline.com[/url] cialis pills for sale
    qdcnyzzbedh Web Site
  • September 5, 2022
canadian government approved pharmacies [url=http://canadotcphar.com/]canadian pharmaceuticals[/url] canadian-drugstore
canadian pharmacy cialis generic <a href="http://canadotcphar.com/">canada pharmacies</a> cialis canadian pharmacy
    northwestern pharmacy canada Web Site
  • September 5, 2022
canada prescriptions online [url=http://canadotcphar.com/]brand viagra online canada pharmacy[/url] prescription viagra online canada
discount rx drugs <a href="http://canadotcphar.com/">canadian pharmaceutical</a> kamagra gel
    canadian pharmacy and cialis Web Site
  • September 5, 2022

Appreciate it! A good amount of facts!
help writing an essay for college <a href="https://discountedessays.com/">writing dissertations</a> reliable essay writing service
    Charlesagins Web Site
  • September 4, 2022
viagra over the counter [url=http://canadotcphar.com/]canada pharmacies online viagra[/url] where can i get viagra without a prescription
canadian viagra online <a href="http://canadotcphar.com/">canadian pharmacy without prescription</a> generic cialis canadian
    canada pharmacy for viagra Web Site
  • September 4, 2022
buy canadian drugs without prescription [url=http://canadotcphar.com/]canadian pharmacy without a prescription[/url] soft viagra
rx canada <a href="http://canadotcphar.com/">canadian online pharmacy</a> canadian pharmacy reviews
    cialis online pharmacy Web Site
  • September 4, 2022
canadian online pharmacy viagra [url=http://canadotcphar.com/]canadian online pharmacy[/url] cialis canada online pharmacy
viagra online prescription <a href="http://canadotcphar.com/">viagra pharmacy online</a> online pharmacies in canada
    cvs pharmacy Web Site
  • September 4, 2022
over the counter viagra [url=http://canadotcphar.com/]canada pharmacy online viagra[/url] prescription medication canada
canadian drugstore <a href="http://canadotcphar.com/">northwestpharmacy.com</a> generic viagra from india
    approved canadian online pharmacies Web Site
  • September 4, 2022
online pharmacy medications [url=http://canadotcphar.com/]cialis canada online pharmacy[/url] viagra for men
northwestpharmacy.com scam <a href="http://canadotcphar.com/">discount canadian pharmacies</a> viagra canada
    cialis online canada pharmacy Web Site
  • September 4, 2022

Trackback (You need to login.)