C O N T E N T S

Can Economics
Save the Worldfrom Rising
GeopoliticalIncertitude?

November/December 2019 (ISSUE 228) VOLUME 38 No.6
COVER STORYCan Economics Save the World fromRising Geopolitical Incertitude?
51 Economic Policy in an Age of Rising
Geopolitical Risks
By Naoyuki Haraoka

82 Suggestion on a Political-Economy
Agenda after Piketty
By J. Bradford DeLong

12 3 Interview with Dr. Heather Boushey, President & CEO ofthe Washington Center for Equitable GrowthInstitutionalized Income Inequality
Hampers Social Mobility
By Japan SPOTLIGHT

16 4 Interview with Dr. Mark Zandi, Chief Economist, Moody’s
Analytics

Income Inequality Destabilizes Business
Cycle & Lowers Growth
By Japan SPOTLIGHT

1PUBLISHER’S NOTE

The Attack on Saudi Oil Facilities –What Can We Learn to Cope with Risks?
By Kazumasa Kusaka

2

COVER LEAD

Can Economics
White
Paper on International
Save the World
Economyfrom &Trade 2019
Rising
Geopolitical Incertitude?
By Naoyuki Haraoka

5

COVER STORYSPECIAL ARTICLE

23 1 Uphill Battle for WTO Reform Toward MC12By Tsuyoshi Kawase

27 2 Digitalization of the Economy &the International Taxation System
By Satoshi Watanabe

31 3 The Belt & Road Initiative’s Odyssey from a Vision toan Organization
By Andreea Brînză

33 4 Technology Controls & Supply Chain Security –the Linchpins of the New Cold War
By Robert Shields

38 5 Trade & Cross-Border Data Flows
By Javier López-González

42

ANCIENT HISTORY OF ASIAN COUNTRIESJapanese Intellectual Exchange with China &Korea During the Edo Period
By Andrew T. Kamei-Dyche

NEXT ISSUE
Our Jan./Feb. 2020 issue will highlight the prospects for the global
economy and Japanese economy following the Tokyo Olympics andParalympics 2020, introducing the views of a number ofdistinguished economists abroad as well as in Japan. Our next issue
will be published on our website on Jan. 10, 2020.

20 5 Interview with Dr. Linda Yueh, an economist at Oxford

University and the London Business School, and author of
The Great Economists: How Their Ideas Can Help Us Today

Learning from the Author of The Great
Economists – Linda Yueh
By Japan SPOTLIGHT

JAPANESE VENTURES & THE FUTURE OF THE ECONOMY

46 1 Interview with Ken Ogata, President of Koreisha Inc.
Exploring a “Work Your Whole Life” Society –the Elderly as Invaluable Human Resources in JapanBy Japan SPOTLIGHT

50 2 Interview with Masanori Fukata, Director of Game Changer
Catapult in Panasonic Corporation

A Major Japanese Company Leading Entrepreneurship –the Case of Panasonic
By Japan SPOTLIGHT

54 FILM REVIEW
Aesthetics in the Fall of a Geisha House –Mikio Naruse’s Nagareru
By Naoyuki Haraoka

56 STUDENT VIEW
Group Mentality Versus Individualism inJapanese Society
By Miki Yokotsuka

58 ECONOMIC INDICATORS FOR JAPANCan Capital Investment Maintain Robust Growth?
By Nobuo Iizuka

Publication date: November 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.

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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.