METI to Establish Industrial Strategy Study Group

摘要

Japan's METI is setting up a forum tentatively called " Industrial Strategy Study Group" for exchanging views with business leaders on future directions of the Japanese economy in light of the hollowing-out of industries caused by manufacturers' moving production bases overseas and resultant decline in domestic output of products. The ministry's aim to reflect suggestions made at the group's meetings in its policesJapan's competitiveness in turning out low value-added goods has greatly diminished as Chine and other developing countries have upgraded their capabilities. Moreover, the number of Japanese manufacturers is on the rise that are shifting their operating bases to Southeast Asia and other regions or expanding local procurement of materials and supplies. All these elements are accelerating the hollowing-out of the Japanese manufacturing sector and further down the road, drastic changes in Japan's business world seem inevitable.