Surprising Big Changes Forecast for Japan (country, people, speak, kids)
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Their workforce is shrinking,Japanese women are not interested to turn out more babies and the Japanese are too snobbish to let other ethnic groups become permanent residents of Japan.
There is some foreign immigration into Japan albeit perhaps minimal. I was on a flight from Tokyo to LA some time ago. My seat mate and I started talking. Says he was born in Japan and his parents immigrated from India years ago.
He worked for a Chinese plastics manufacturer and is in their Tokyo branch. The Chinese boss and his cronies make a semi annual trip to Vegas to gamble but don’t speak English. My seat mate is their interpreter.
The bossman and his pals were up in first class, we were in economy. In addition to interpreter he was kind of the gofer. He had a big stack of Chinese passports and other paperwork for the group. Told me the boss and his buds were interested in meeting up with some hookers in Northern Nevada and did I know about any brothels in the area.
The assertions in the article are pretty ridiculous. While Japan's stock market is doing well mostly thanks to foreign investors, the economy shrank in Q3 2023 even with JPY being exceptionally weak, which is just tragic.
Also, 3.2 million foreigners in a country with 120 million people is very few.
Also, 3.2 million foreigners in a country with 120 million people is very few.
Not only that, but Japan has a particularly poor record of assimilating foreigners. There are people of Korean descent whose families have been in Japan for generations now, and they're still not fully accepted.
150,000 in 2019 to 700,000 in 2023 is a good start. If they reach 10% by 2030 they'll no loner be such an exception.
Quote:
4. Open-Door Japan
Japan will become an immigration powerhouse. Before the pandemic, the country was on track to accept about 150,000 new non-Japanese employees per year. This more than doubled to almost 350,000 in the first half of 2023. There are now approximately 3.2 million non-Japanese residents of Japan, up from barely half a million 30 years ago. Visa and permanent-residency requirements continue to ease. Most importantly, the biggest obstacle to employing non-Japanese talent—seniority-based rather than merit-based compensation—is beginning to change. All said, it is now perfectly reasonable to expect that about 10 percent of employees will be non-Japanese by 2030. That’s more than double the current rate of just below four percent.
The assertions in the article are pretty ridiculous. While Japan's stock market is doing well mostly thanks to foreign investors, the economy shrank in Q3 2023 even with JPY being exceptionally weak, which is just tragic.
Also, 3.2 million foreigners in a country with 120 million people is very few.
Not only that, but Japan has a particularly poor record of assimilating foreigners. There are people of Korean descent whose families have been in Japan for generations now, and they're still not fully accepted.
With attitudes changing globally and by looking at the American and Australian experience since around 1970 it makes you wonder where the tipping point is. Just by tales of relatives I have living in Japan they seem to think attitudes have changed, at least for the Blasian that they and their children in Japan represent.
The Japanese have an enviable standard of living and have saved enough to keep it going for some time. Because they haven't had enough kids and they are not dying, they are on a down spiral in terms of population and economic growth. Because they have saved, now we will see how good they are at investing to grow their wealth to keep it going. Maybe Switzerland can be a kind of model for Japan now.
The article argues that there are more M&As in Japan, which might be true, but a lot of the deals are foreign companies buying Japanese companies (e.g., Foxconn buying Sharp). Not to mention, it's pretty ridiculous to assume that Japanese companies would suddenly become competitive after a merger.
The household wealth argument is even more ridiculous. If this was true no country would ever need to worry about their demographics. Besides Japan's wealth level isn't great these days with yen being so weak.
The only positive trend about Japan these days is probably their investment in semiconductor production now. It's also completely overwhelmed by international tourists which helps a bit I guess.
It's not doing nearly as poorly as China is doing though.
Quote:
Originally Posted by Tall Traveler
The Japanese have an enviable standard of living and have saved enough to keep it going for some time. Because they haven't had enough kids and they are not dying, they are on a down spiral in terms of population and economic growth. Because they have saved, now we will see how good they are at investing to grow their wealth to keep it going. Maybe Switzerland can be a kind of model for Japan now.
Japanese might save a lot, like all Asians. But Japan's wealth accumulation isn't anything special, certainly not remotely comparable to Switzerland.
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