I believe, as we approach the 21st century, the question is not whether Japan will change, but how far and in what direction it will change. Perhaps the greatest condition is how far Japan is willing to open itself to the world, which it has begun to do. For instance, direct foreign investment in the first half of this year was double the amount in the same period of last year and five times higher than in 1997. However, Japan still invests about eight or nine times as much overseas as foreign companies invest in Japan. Japan needs to become an attractive country in which non-Japanese want to invest, do business and live.
Japanese consumers deserve a greater choice of products and services.
Greater competition from overseas companies will strengthen the Japanese economy. The opening of Japan may be difficult for some Japanese. But a Japan that is attractive for investment, for business and for living would be a Japan that provides more benefits to Japanese people as well. The Japanese economic success has been enjoyed by a great majority of the population. The tax structure has made sure that everyone has a share of the prosperity.