It is a great privilege to be invited to speak at Columbia Business School today. The Center on Japanese Economy and Business (CJEB) has long been a central hub for leading economists to carry out research and promote a better understanding regarding Japan's economy. I wish to express my deep respect for the efforts of Professor Emeritus Hugh Patrick, the founder of the CJEB, Professor David E. Weinstein, the current director at the center, and Professor Ito Takatoshi, my longtime friend and good partner in economic debate. More than two years have passed since the COVID-19 outbreak in spring 2020. Despite the ... (full story)