Japan’s ‘womenomics’ needs reboot to boost GDP by 15%

Jul 13 (forbes.com) - As Japan mulls how to reinvigorate its economy in the post-Shinzo Abe era, there’s an obvious place to start: gender.

The tragic July 8 assassination of the former prime minister, the longest-serving leader in Japanese history, has been almost reflexively fawning. Fair enough. Yet in days since, new data remind us of the danger of reframing Abenomics as a successful effort to raise Japan’s economic game.

In 2012, Abe took power for a second time. Chastened by how ignominiously the earlier 2006-2007 stint went, Abe returned with James Carville’s “it’s the economy, stupid” mantra from the 1990s running through his head. Arguably no economic priority won Abe greater attention than his pledge to make the female half of Japan’s 126 million people “shine.”

Tokyo’s “womenomics” effort ended up rather dull, instead. On Wednesday, the World Economic Forum ranked Japan 116th in its gender equality index, behind Burkina Faso, Tajikistan and Guatemala (it was 101st in 2012). And most importantly, 14 rungs behind China, 17 behind South Korea and 67 behind Singapore.

Japan does even worse when it comes to gender parity in politics, ranking 139th out of 146 countries. This puts Japan behind Bahrain, Jordan and even Saudi Arabia.

There is, admittedly, some potentially good news to report. In Sunday’s upper house parliamentary election, women grabbed a record 35 of 125 seats, or 28%. The bad news: past milestones of this sort proved to be false dawns as the patriarchy expanded its power. ...continue reading


MORE Business NEWS

Sony Pictures Entertainment, under the Sony Group, in partnership with an American investment firm, has proposed a joint acquisition of the U.S. media giant Paramount Global for approximately 4 trillion yen ($26 billion), as reported by multiple American media sources.

Nippon Steel has announced a postponement of its acquisition timeline for major American steel manufacturer U.S. Steel, from the end of September to the end of December.

As harsh summer heat is expected nationwide, applications for insurance against the risk of heatstroke have surged, reaching approximately 4,000 in just one week since sales began.

POPULAR NEWS

In preparation for SusHi Tech Tokyo 2024, exhibitions were held on the weekend across various locations in Tokyo highlighting sustainable technology for the future.

School absenteeism among Japanese elementary and middle school students has surged to approximately 300,000, with many students struggling to return after long holidays like Golden Week. In this context, a sixth-grade girl who overcame school absence shared her story.

Despite the unseasonable heat, many visitors crowded in to view a total of 333 carp streamers, both large and small, displayed today, on Children's Day, in front of Tokyo Tower.

Amid global wheat shortages due to abnormal weather conditions and the depreciation of the yen, Japan is seeing price hikes and suspensions in the sale of products like orange juice, leading some to turn to domestic alternatives like mandarin juice. One such alternative gaining attention as a substitute for imported goods is rice flour.

Ahead of Children's Day, Japan's Ministry of Internal Affairs and Communications released an estimate of the country's child population, revealing a decrease of 330,000 compared to the previous year. The population of children under 15 dropped for the 43rd consecutive year, reaching a record low since data collection began in 1950.

FOLLOW US