C O N T E N T S

Global Governanceat a Crossroads– a Roadmap Towards
the G20 Summitin Osaka

1

Revisiting Risk vs. Risk – How Can Society Livewith Complex Technologies?
COVER LEAD

Global Governance at a Crossroads– a Roadmap Towards the G20 Summit in Osaka
By Naoyuki Haraoka

4

COVER STORY

Global Governance at a Crossroads– a Roadmap Towards
the G20 Summit in Osaka
4

COVER STORY

43 PERSPECTIVES ON GLOBAL RISKS: THE 2ND JEF GLOBAL RISK SYMPOSIUM
The Indian Ocean – the Region for an Effective
Rapprochement Between the Asia-Pacific & Africa
By Deonanan (Raj) Makoond

SPECIAL ARTICLE

47 1 ALPS-Treated Water Stored at the TEPCO Fukushima
Daiichi Nuclear Power Station
By Nuclear Accident Response Office, Agency for Natural Resources &Energy, Ministry of Economy, Trade & Industry

1 Interview with Dr. Laurence Boone, Chief Economist at theOrganization for Economic Cooperation & Development (OECD)

Global Economic Outlook Not So Grim as
G20 Summit in Osaka Approaches

PUBLISHER’S NOTE

By Kazumasa Kusaka

2MAY/JUNE 2019 (ISSUE 225) VOLUME 38 No.3

By Japan SPOTLIGHT

82 Interview with Dr. Dennis J. Snower, President of the Global Solutions

Initiative, Senior Professor of Economics at the Hertie School ofGovernance, Berlin; Senior Research Fellow at the Blavatnik School ofGovernance, Oxford University; and Non-Resident Fellow, Brookings
Institution & former President of the Kiel Institute for the World Economy

Restoring Social Cohesion – a Crucial
Issue for the G20 in 2019
By Japan SPOTLIGHT

13 3 The Global Trading System: What Went Wrong & How to Fix It
By Edward Alden

17 4 Interview with Amar Bhattacharya, Senior Fellow at the Global

Economy and Development Program at the Brookings Institution

Quality of Infrastructure Will Be Enhancedwith Better Globalization Under the G20
By Japan SPOTLIGHT

51 2 Asia’sThe Toyo
Role
Bunkoin Global& theGovernanceMorrison Collection

22 5 Interview with Dr. Tae Suk Lee, Vice President & Director, Department

The ToyoRole
Bunkoin Global& theGovernanceMorrison Collection
53 3 Asia’sAging Populations & Their Economic Impact: Focus on Asia

By SachikoTakeshi Hamashita
Hirakawa
By Takeshi
Sachiko Hamashita
Hirakawa

56 ANCIENT HISTORY OF ASIAN COUNTRIES
India & Mongolia in the Middle Ages – More Than Just aConnection
By Mohan GopalJAPANESE VENTURES & THE FUTURE OF THE ECONOMY

61 1 Interview with Dr. Hiromi Murakami, Visiting Senior Fellow of the Global HealthInnovation Policy Program at the National Graduate Institute for Policy Studies (GRIPS) &President of the Japan Institute for Social Innovation and Entrepreneurship (JSIE)

Women in Japan Not Yet Fully Utilized for Economic Growth
By Japan SPOTLIGHTof Public Finance & Social Policy, Korea Development Institute
By Japan SPOTLIGHT

25 6 Challenges & Proposals for SME Policies in G20 Countries
By Hiroyuki Okamuro

28 7 Interview with Shigeru Ariizumi, Deputy Commissioner for InternationalAffairs, Financial Services Agency, Government of Japan

Digitalization of Financial Services – a New
Challenge for the G20
By Japan SPOTLIGHT

32 8 The G20 & Global Governance
By Sachin Chaturvedi & Priyadarshi Dash

66 2 Interview with Satoshi Fukushima, Principal at Globis Capital Partners & Co.
Youth in Japan Keen on Entrepreneurship

37 9 Strengthening Global Governance & Multilateralism: a70 STUDENT VIEW
Japan-Taiwan Relations: Recent Changes & Future
Development

40 10 Interview with Dr. Frank Rijsberman, Director-General of the Global

By Japan SPOTLIGHT

By Marshall Sherrell

74 ECONOMIC INDICATORS FOR JAPAN
Wage Growth: Where Is the Actual Rate?
By Nobuo Iizuka

NEXT ISSUE
Our next issue will highlight the theme “Active Aging Society in Step
with Appropriate Social Security Policies”, a follow-up to the G20
discussions related to aging populations, the most crucial challenge
facing the global economy. Our next issue will be published on ourwebsite on July 10, 2019.

Special Mission for the G20 in Osaka
By Anita PrakashGreen Growth Institute (GGGI)

Searching for Environmentally Sustainable &Socially Inclusive Economic Growth at the G20
By Japan SPOTLIGHT

Publication date: May 10, 2019 (Published on the 10th of every odd month)
Publisher: Kazumasa Kusaka, Chairman & CEO, Japan Economic Foundation (JEF)
Editor-in-Chief: Naoyuki Haraoka
Editorial Staff: Masako Watanabe, Asuka Niwa
Design: PRITECH Co., Ltd.

https://www.jef.or.jp/journal/

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Materials may not be reproduced without written permission.

The opinions expressed in the articles published in Japan SPOTLIGHT are those of the authors and do not necessarily reflect the views of the Japan Economic Foundation.