Professor Heizo Takenaka gives lecture on Japanese economy and diplomacy

Peking: On October 23, Professor Heizo Takenaka, a famous Japanese economist and professor emeritus at Keio University, gave a lecture and had a cordial discussion with an audience of more than 100 participants.

Before the lecture, Hao Ping, president of Peking University, and Dong Zhiyong, assistant to the president and dean of the School of Economics, held a video conference with Professor Takenaka and Wang Wan, a researcher of the Institute of Modern History, Chinese Academy of Social Sciences. Hao Ping opened by expressing his welcome and gratitude to Professor Takenaka and Wang for their support of PKU’s academic activities. He pointed out that China-Japan relations are one of the most important bilateral relations in the world and that it is beneficial for PKU students to learn about the development of the Japanese economy and its society.

At the video conference

Professor Takenaka responded that the bilateral relations are of vital importance to Japan and that he was glad and honored to share his understanding of Japan’s economy, diplomacy, and other related fields with students.

Based on the course opened this semester, the School of Economics held a Japanese Expert Lecture Series, which aimed to provide teachers and students with a more comprehensive and straightforward picture of Japan’s economy and society as well as a new perspective for their research.

The lecture was hosted by Wang. During the lecture, Professor Takenaka expounded his views on four fronts: Japan’s macroeconomic policy, the impact of COVID-19, Japan’s digital policy plan and Japan’s foreign policies. Professor Takenaka went on to provide a detailed interpretation of Japan’s “Three Arrows” economic policy and said that the Japanese government will strengthen its growth strategy and adhere to the principle of “Self-, Mutual- and Public-help” to stimulate Japan’s long-term economic growth.

Professor Heizo Takenaka and Wang Wan during the lecture

Professor Takenaka said that COVID-19 has greatly impacted Japan’s labor force and economy. In response, the government has provided people and enterprises with the necessary financial support. Professor Takenaka believes that this pandemic will bring about sweeping social changes and as such, attention needs to be given to how these changes will influence public opinion.

Professor Takenaka focused on introducing Japan’s plan in building digital offices and developing its digital economy. He pointed out that while Japan already has a foundation in its facilities and technology in its path towards digitization, it is still insufficient in application.

Professor Takenaka also expressed his views on the direction of Japan’s foreign policy. He thinks the current government will follow Shinzo Abe’s diplomatic ideas of “Taking a Panoramic Perspective of the World Map”, “Positive Pacifism”, and advocacy for maintaining a free and open world order. From a global perspective, Asia has been relatively less affected by the outbreak of this pandemic and as such, can take the lead in helping get back on track in relation to economic recovery and promoting cooperation. Particularly for China and Japan, there are also broad prospects for cooperation in vaccine development and production.

After the speech, Professor Takenaka opened a discussion with the audience and gave detailed answers for their questions. Questions pertained to issues such as Japan’s model for digital-led economic growth, the impact of China-US trade frictions on Japan’s foreign trade policy, and economic development and the future measures of Japan’s financial reconstruction.