Japan still Asian key despite decline
The sun may have set on Japan as a global economic powerhouse but it will remain highly influential in Asia because of its commercial and financial ties to the new growth economies in the region, according to a paper delivered to this week’s Reuters Japan Investment Summit.
The summit was told Japan would remain relevant due to its growing financial ties with other countries in the region, its technological prowess, vast pool of untapped savings and reputation for stability, especially in the midst of the current economic crisis.
However, the summit was also told that Japan's economy was expected to shrink by 3.5 per cent, making it one of the poorest performing economies in the region, and that it would likely "be the biggest laggard in Asia next year".
The president of Blackrock in Japan, Hioyuki Arita, said while Australia would find itself in a weaker position than in the past, this would not necessarily impact on Blackrock’s investment activities and that Japan would remain an attractive investment destination.
He said Blackrock Japan had seen its overseas clients become net buyers of Japanese stocks since March.
AUTHOR
Mike Taylor
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