New But Traditional Capitalism
According to the top leader of Japan, the country is going to lead the world with a concept of “new capitalism.” In his annual policy speech to the National Diet on Monday, Prime Minister Fumio Kishida required the people to join his challenge for economic and social change, to which he believed the world to be stepping forward. However, his challenge looks to be relatively leaning on traditional growth-oriented policies, lacking strong momentum for wealth distribution to every corner of Japanese society. Kishida tried to sell his new capitalism as the key to economic revitalization. He listed various hazards the world was encountering; wider gap and poverty brought by dependence on market economy without fair distribution, shortage of mid- or long-term investment caused by putting priority on efficiency of competitive market, losing sustainability, arial gap between the urban and the rural, serious climate change with pressure on the nature, and crisis of healthy de...