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Japan has been ageing rapidly due to improvements in life expectancy and low fertility rates. This challenges the financial sustainability, solvency and adequacy of the pension system.
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Digital transformation offers countries a range of social and economic opportunities. Japan recognises this potential, as indicated by its championing of digital issues at the G20 and G7, and the commitment of the Japanese government to harness data for Society 5.0.
This global slowdown is taking place amidst growing concerns that digitalisation is creating disruption and imposing a huge transformation upon our economies and societies. This transformation, however, also brings important improvements in well-being. Let me provide some context.
In March 2011, Japan suffered one of the most devastating disasters of its recent history. I refer to the magnitude-9 Great East Japan Earthquake, which was followed by a tsunami that caused vast damage across northern Japan and took the lives of thousands of people. If these disasters had not caused enough damage already, they also provoked the Fukushima Daiichi nuclear accident.
Japan’s current economic expansion, which began in December 2012, is now the longest in its post-war history; it is not, however, its fastest. We expect GDP to reach ¾ per cent this year and in 2020. The growth of output per capita has accelerated to a pace close to the OECD average and job creation has been robust. Persistent deflation has been replaced with positive, albeit low, inflation.
As championed by Prime Minister Abe, the role of women in public life is crucial for a prosperous economy and sustainable inclusive growth. Better gender balance among politicians promotes inclusive policymaking and boosts trust in government. To increase women’s representation in politics, it is vital that parties themselves are inclusive and promote female candidates during elections.
Let me begin with the context. The global expansion continues to lose momentum and world trade growth has slowed sharply. Trade tensions have clouded the outlook for firms and risk disrupting investment and global value chains.
Mr. Angel Gurría, Secretary-General of the OECD, will be in Tokyo on 15-16 April 2019 on an Official visit to Japan, to present the OECD 2019 Economic Survey of Japan. During his visit, the Secretary-General will hold bilateral meetings with Prime Minister Abe, as well as several Ministers and other high-level Japanese officials.
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This country fact-sheet presents key figures from "Under Pressure: The Squeezed Middle Class". This report analyses the trends of middle-income households in areas such as employment, consumption, wealth and debt, as well as perceptions and social attitudes. It also includes recommendations for protecting middle-class living standards and financial security in the face of economic challenges.
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This country highlight puts the spotlight on lesbian, gay, bisexual and transgender (LGBT) people: their numbers, their economic situation and well-being and policies to improve LGBT inclusivity. It also includes a special chapter on people’s perceptions of social and economic risks and presents a selection of social indicators.