May.31.2017 “To maintain wealth in aging, declining birth rates and population decline What to be able to do by youth”
Mr. Toshiro Nishizawa, the professor of Graduate school of public policy

Mr. Toshiro Nishizawa : After graduating from Tokyo University of Foreign Studies and Tokyo university, Mr. Nishizawa entered Japan Bank for International Cooperation. After that, he also served, Ministry of Finance, Ministry of Foreign Affairs of Japan, International Monetary Fund, Japan Finance Corporation, Japan Center of International Finance, International Bank for Reconstruction and Development, And now, he belongs to The Graduate School of Public Policy.

This forum is gone ahead with along the two axes that is what happen to Japan and considering the problem as that of my own. Because Mr. Toshiro Nishizawa regard thinking of the problem as my own problem as serious, and he didn`t specifically mentioned that.

So that this forum`s theme, to maintain wealth in aging, declining birth rates and population decline, is too big and vague to be directly discussed, first what is awareness is confirmed from the two perspective 1) effect of GDP growth rate by population decline 2) dealing of problem by Japanese government.

1) firstly, we check effect of GDP growth rate by population decline. If Japan`s population decrease with two fact aging and declining birth rates, level of GDP growth rate don`t maintain by productivity descending. Strain from that is always to bear as cost by someone. Now in Japan, Mr. Nishizawa points out someone who costs is future generations. As example generation gap of pension and Japanese employment practices.
 In the view of someone who costs, document of decline of regional in question announced by government checked and quote the word “capacity of connect” and “capacity of opening”. These words be use of thinking of matter myself.

2) secondly, in that situation, Mr. Nishizawa verify how to deal with that by government from the viewpoint of financial and monetary policy. To be taken into consideration in financial and monetary policy is two goals. A goal is how to sustain level of national incomes, another goal is how to contribute to Asia`s financial systems.
 Presently, Japanese national incomes takes on side view of major sectors of financial surplus /deficits, we noticed household and corporate funds is surplus and government and overseas is deficit. Moreover, we can realize that changes in terms of the breakdown of the current balance. overall the current balance was surplus but, for trade balance was deficit and primary income increased. That shows that the main national income changes trade surplus to investment income to foreign country. Before Japan invests foreign countries, attractive products is developed infrastructure.
 Therefore, it is very active to credit to overseas. Mr. Nishizawa said the present Japanese government`s policy point to a characteristic trend in financial services agency from this kind of circumstance. This trend hasn`t seen in previous.

This concludes Mr. Nishizawa`s lecture. After this, We have question and answer session. Following the lecture, we gain better understanding by asking him about the issue what we think about and are involved in around my own.

Q. There is the idea called shared value looks like ideal. What do you think this idea?
A. But various words are generated on a moment to moment, in many cases it is superficial. Thinking about how to do specifically is important.
In the academic world, especially economics, The idea is ending in an idealistic thought. But if it was an idealistic thought, it could be meaningful to effect actual movement.

Q. (indicates documents of regional vitalization by government) This vague idea and plan is seen in various places. what do this idea mean?
A. You are right. These ideas sometimes submit, because it is difficult to does something by government. For example, many of various opinions, there is completely opposite, were proposed to government. Government must suggest one policy in this situation. In such cases, These ideas are announced.

Q. do you think that wealth is necessary to think of economic growth?
A. To measure wealth is difficult, because satisfaction can`t convert into numerals. But now, actually, we need to decision, thereby it is useful to be able to measure is economic indicators. How the measure in the wealth must be considered.

Q. I often heard that Japan has problems in a point of aging. But I think Japan is developed country which has new problems. What do you think about that?
A. We can also say that if we change the point of view. But we should to have an effect on something.

(Soichiro Sasaki)