Is that right? In some respects the Rising Sun is already changing its approach to the outside world: there are those who speak of “fourth opening to the world” (after those of the late sixteenth, mid-nineteenth and post-war years), which finds its symbols in the transition from the mercantilist line of past decades to the promotion of free trade. It was Tokyo that saved the TPP after the US withdrawal and signed an ambitious Economic Partnership with the EU, flanked by a “Strategic Partnership” that emphasizes the common values with Europe.
The Italy-Japan Business Group Saturday, November 16, at the meeting of the Italy-Japan Business Group, there was great optimism about the effects of reciprocal economic openings. After all, on October 24, 1989, when there was the first IJBG assembly, a arrogant and barrier-free Japan for foreigners was matched by a Europe reduced by the “quota” of Japanese car imports.
Recently, Tokyo has even approved legislation that – despite its strict limitations – for the first time opens up a path towards citizenship for foreign workers. In other respects, however, it seems that the steps forward correspond to reverse. The government launched a bill on October 18, now at the Diet, which tightens the rules on foreign investments, lowering the threshold on which foreign investors will pre-report their investment in companies from 10% to 1% of capital considered “sensitive” for national security.
Tokyo’s role in global marketsThe same head of the Stock Exchange, Akira Kiyota, has feared a threat to Tokyo’s role in global markets, while many analysts have issued warnings about the negative effects on all foreign investments, even direct ones.
Those who trade not infrequently exceed the 1% threshold in daily transactions, not to mention the difficulties in determining the nature of the investments in real time. The clarifications on the exemptions for financial managers did not convince.