New Business Book Summary Available for The Power to Compete

Japan must make bold moves to reverse its economic stagnation, economist Ryoichi Mikitani and Internet entrepreneur Hiroshi Mikitani write in The Power to Compete. They do not believe that Abenomics, the economics program led by Prime Minister Shinzo Abe, does enough to solve Japan’s problems. Instead, the nation needs to increase its competitiveness, efficiency, and innovation by lessening government regulation, eliminating layers of bureaucracy, moving away from Japan’s lifetime employment tradition, and cutting taxes and the costs of government. The authors also argue that making English the business language of Japan, liberalizing rules governing foreign workers in Japan, and allowing foreign companies to take over failing Japanese businesses would help boost the nation’s economy.