Mimaki Seiko, Associate Professor, Doshisha University On January 20, 2025, the inauguration ceremony of the 47th President, Donald Trump, kicked off the second term of the Trump administration. President Trump’s inaugural address was full of suggestions for what the future of the United States and the world will look like. At the beginning of his inaugural address, President Trump stated, “the golden age of America begins right now,” and emphasized, “we will not allow ourselves to be taken advantage of any longer.” The implication is this. Previous American presidents have been too good-natured, and have been led astray by other countries praising the United States with words such as “the leader of the international order.” These presidents have invested huge amounts of money and resources to protect the safety and prosperity of other countries, even at the expense of their own national interests. Such ... ... [Read more]

  2024 was an election year in which national elections were held around the world. Initially, some people thought there would be no election in Japan in 2024. However, in October, the Lower House was dissolved with one year left in its term, and a general election was held. Then, for the first time in 30 years, a minority ruling party was born, and Japanese politics is at a turning point. What does this mean? Let us delve deeper into this turning point. The last general election for the Lower House was held in October 2021, and the Liberal Democratic Party (LDP), led by President Kishida Fumio, won a landslide victory. It also won the regular election for the Upper House in July 2022. The term of the Lower House members will expire in October 2025, and the regular election for half of the ... ... [Read more]

  Ito Sayuri, Executive Director, Economic Research Department, NLI Research Institute   Since the end of the Cold War, supply chains have expanded globally, and there are concerns about fragmentation due to multiple factors, including the escalating conflict between the United States and China, the COVID-19 pandemic, Russia’s invasion of Ukraine, and the climate crisis. At the G7 Hiroshima Summit in 2023, de-coupling was rejected as an approach to economic resilience and economic security, and a policy based on de-risking was affirmed. Friendshoring, the formation of supply chains among allied or like-minded countries; nearshoring, the relocation of business to neighboring countries; and reshoring and onshoring, the return of business to a country, became buzzwords to indicate the direction of restructuring supply chains. Changes are already visible in global trade data. In 2023, the amount of trade between the United States, the European Union and ... ... [Read more]

  Ito Sayuri, Director, Economic Research Department, NLI Research Institute   Has the world, which has experienced turmoil such as the coronavirus pandemic and Russia’s invasion of Ukraine over the past three years, reached the brink of a financial crisis? In March 2023, several banks in the United States went bankrupt, and management problems at Switzerland’s second-largest bank led to a merger with the largest Swiss bank. In the United States, the outflow of deposits continues due to similarities in business models with the banks that have faced problems. There is also a growing movement to reassess the risks associated with a specific type of bonds issued by banks that have been valued at zero in the Swiss bank merger plan. The emergence of a series of management problems at financial institutions and the reassessment of risks associated with financial products are reminiscent of ... ... [Read more]

  Shimizu Yuichiro, Professor, Faculty of Policy Management, Keio University   We have finally emerged from a very long tunnel. For effectively three years, people’s mobility between Japan and the rest of the world was severely restricted. The fact that goods and information suffered few disruptions is fortunate, but the field of research exchanges, which places an importance on building in-person relationships, was forced into stagnation. Of course, it was not a complete blackout. Various international conferences were held in online formats thanks to the dedicated efforts of those involved. But while those approaches maintained existing connections, they made it difficult to forge new ones for the future. We were reminded of the complex perceptions that face-to-face interactions produce, and of how having extra time during these interactions is important in the way it expands possibilities. The desire for connections seems to have increased ... ... [Read more]

  MIURA Atsushi, Professor, University of Tokyo   The selection of three Japanese for TIME magazine’s “The 100 Most Influential People of 2021” became a hot topic in mid-September. Ohtani Shohei (a Major League baseball player) and Osaka Naomi (tennis player), two renowned athletes with global profiles, did not come as such surprises, but the choice of the architect Kuma Kengo may have been rather unexpected to some. However, it is a choice that makes sense to those who know, and it also suggested the discernment of TIME to me. That’s right, those who know know. Kuma Kengo is known for designing the National Stadium (Japan National Stadium), which became the main site of the 2020 Tokyo Olympic and Paralympic Games (hereinafter, “Tokyo 2020”). However, it is unlikely that he was picked as one of the 100 people only for having designed the venue ... ... [Read more]

MIURA Atsushi, Professor, University of Tokyo   It is not widely known that the Château de Fontainebleau in France has a collection of Japanese art. The existence of the collection was largely unknown to all but a few prior to the “Art History Festival” held in June 2021 and centered on the Château. The “Art History Festival” is a collaborative event organized by the National Institute for Art History and the Château de Fontainebleau under the jurisdiction of the Ministry of Culture of France. Offering a diverse program that includes lectures, round tables, movie screenings, and exhibitions, the event has wide-ranging appeal, attracting not only experts and researchers but also artists and the general public. Each year, a theme and a guest country are chosen. The theme of the festival this year, held from June 4 through 6, was “Plaisir” (Pleasure), and the guest ... ... [Read more]

Miura Atsushi, Professor, University of Tokyo   The gist of my previous blog entry was that, although unknown to what extent the organizers were aware of this, from a historical point of view, the monumental event that was “Japonisme 2018” was an exhibition of Japanese culture that had its roots in the Japan exhibitions at the international expositions of the nineteenth century while also connecting to the national policy of exporting culture in anticipation of a second Japonisme boom. I want now to comment on the actual exhibitions with a focus on the art exhibitions, but it is not that I was able to see all the exhibitions. Because I went to France in the third week of December 2018, I missed “FUKAMI: Une plongée dans l’esthétique japonaise” (Hôtel Salomon de Rothschild), “Jakuchu: Le royaume coloré des êtres vivants” (Petit Palais), “Jomon: Naissance de ... ... [Read more]

Kojima Akira, Member, Board of Trustees, and Adjunct Professor, National Graduate Institute for Policy Studies (GRIPS); Trustee, Chairman of the World Trade Center Tokyo   In mid-April, the International Monetary Fund (IMF) announced a significant downward revision of its growth projection for the world economy in 2020, from the 3.3% it had announced just three months prior, to -3.0%. Nonetheless, the new estimate is based on the assumption that economic activities will normalize after the COVID-19 coronavirus outbreak is contained in the latter half of the year. The IMF has even started to use the term “the Great Lockdown.”    Although the quick development of an effective drug is expected, it should be assumed that the coronavirus pandemic may be prolonged or that a second or third wave of the coronavirus outbreak may occur. It is essential to resolutely deal with the current situation ... ... [Read more]

Miura Atsushi, Professor, University of Tokyo   I still remember the large cultural event titled “Japonisme 2018,” which was held in France in 2018. That year marked the 160th anniversary of the establishment of diplomatic relations between Japan and France, the 150th anniversary of the Meiji Restoration, and the 150th birthday of Paul Claudel, the writer and diplomat who contributed to French-Japanese relations. Such a large-scale event themed on Japanese culture was rare in France, although anniversary events are common. It was magnificent that over fifty intriguing projects representing Japanese culture were implemented across France from July 2018 to February 2019, such as fine art, acting, movies, food, literature, dance, manga and anime (Fig. 1).   I was lucky to see four exhibitions related to “Japonisme 2018” when I visited Paris in December 2018. Based on the impression from my visits, I would like ... ... [Read more]