The future of industrial structure in Japan and the United States of America
我国产业结构的现状以及对策英语
我国产业结构的现状以及对策英语With the rapid development of China's economy, the industrial structure of the country has been constantly changing. In recent years, China's industrial structure has shifted from the traditional manufacturing industry to the high-tech and service industries. However, there are still many problems in the industrial structure, such as the imbalance in regional development, a lack of innovation, and an over-reliance on exports. In this article, we will discuss the current situation of China's industrial structure and propose some solutions.Step 1: Current situation of China's industrialstructureChina's industrial structure can be divided into three categories: primary industries, secondary industries, and tertiary industries. According to the latest data, the primary industry accounts for 7.5% of GDP, the secondary industry accounts for 27.7%, and the tertiary industry accounts for 64.8%. The tertiary industry has become the largest industry in China's economy, showing that the service sector is the driving force behind China's economic growth.However, the traditional manufacturing industry still plays a significant role in China's economy. The manufacturing industry accounts for a large portion ofChina's exports, and many people are still employed in this sector. However, the industry has faced challenges such as rising labor costs, a lack of innovation, and environmental pollution.Step 2: Imbalance in regional developmentOne of the major problems in China's industrial structure is the regional imbalance. The economic development in China's coastal regions is much better than in the inland regions. The eastern coastal regions are more developed, while the central and western regions are less developed. This imbalances affects the allocation of resources and industrial development.To solve this problem, China has implemented policies to promote the development of the central and western regions. The government has provided financial and tax incentives to encourage companies to invest in these regions, and has also encouraged the development of infrastructure, education, and healthcare resources in these areas.Step 3: Lack of innovationAnother problem in China's industrial structure is the lackof innovation. Most of the manufacturing companies in China are still in the low-end of the value chain and rely on low-cost labor to compete in the global market. There is a lackof investment in research and development, which limits the ability of Chinese companies to innovate and develop new technologies.To address this challenge, the Chinese government has launched a series of initiatives to promote innovation-driven development. For example, the “Made in China 2025” plan aims to transform China from a manufacturing hub to a tech-based economy. This plan includes investing in research and development, fostering innovation and entrepreneurship, and upgrading the manufacturing industry to higher-value-added sectors.Step 4: Over-reliance on exportsChina's industrial structure is heavily dependent on exports. Export industries account for a significant portion ofChina's GDP, and the country relies on the global market to sustain its economic growth. However, this has also made China vulnerable to external shocks such as trade frictions with other countries.To tackle this problem, China is now seeking to transform its economy to a more domestic consumption-driven model. The government has launched policies to promote household consumption and reduce dependence on exports. The country is also looking to strengthen its ties with other countries, such as through the Belt and Road Initiative, to expand its market and reduce reliance on traditional markets.In conclusion, China's industrial structure has undergone significant changes in recent years. Although there are still many challenges to be addressed, China has demonstrated great potential for future development. By addressing the imbalance in regional development, promoting innovation, and reducing reliance on exports, China's economy will continue to thrive in a sustainable way.。
BEC——China's export
Analysis1、 China's export commodity structureFrom the chart above, we can get the following information:（1）The export rate of manufacture goods is rising while the primary commodity’s is decreasingStarting in the 1980 s, China's export products structure from primary products to manufactured goods, by 1995,manufactured goods for export proportion had risen to85.6%, reached a quite high level, on this basis, themanufactured products share continues to increase, androse to 93, in 2005. 5%, which indicates that China'sexport growth was mainly pulled by the industrial finishedproducts export growth to the amount of, from thehorizontal comparison, compared with the internationallevel, according to world bank data, in 2000 China'smanufactured exports accounted for 88%, 10% higherthan the international average, 5% higher than in high-income countries, will be 30% higher than in low andmiddle-income countries.Proportion of manufactured goods exports in our country, therefore, compared with domestic history, andinternational level is very high, this and our productioncapacity increase, upgrade industrial structure, abundantlabor resources, as well as the international industrialtransfer factors are related. This is also the result ofChina's active participation in international division oflabor.（2）new high-tech product export growth is accelerated, the export proportion rising rapidly.From 1995 to 2007, our country high-tech products exportproportion rose to 6.8% from 29%, its growth speed isobviously faster than other manufactured goods. However,China's high-tech products trade body for more foreigninvestment enterprises, foreign-funded enterprises in thehi-tech products export proportion has the absoluteadvantage.2、China's service trade structure.(1)service is given priority to with the traditional service tradeexportsAs can be seen from table 1, in addition to the individual years, tourism, transportation and other business services which three big traditional services exports account for trade in services exports more than 85% in all. In contrast, represents the knowledge, technology or capital intensive new service trade exports is minimal. Financial, insurance, communications, exclusive right use and royalty such as four total only about 5% of total trade in services exports.(2)Import little change traditional service, modern service imports increasedFrom import share of China trade in services imports the largest of the three departments for transport, tourism and other business services, the sum of imports of the three departments in most years have accounted for more than 80%. Traditional service trade sector's overall import fluctuation is not big, maintain a relatively stable. And emerging services increased year by year, by in insurance, and use of proprietary rights and royalties, consulting the fastest growing. This feature, and the development of the whole world service trade to the knowledge, technical direction trend is consistent.Problems1、Imbalance of China’s export region structureDomesticAs part of China's continuing effort to become competitive in the global marketplace, China joined the World Trade Organization in 2001. China's entry into the WTO has benefited coastal cities, especially in the southeast, like Pearl River Delta Area, Yangtze River delta and Beijing-Tianjin-Tangshan economic zone, which causes serious imbalance among domestic area.InternationalDue to the comparative advantage in labor-intensive industry and lower-endmanufacturing over developed countries, the main buyers of China’s exportproducts are US EU Japan South Korea and HongKong. Also for the reason of cultural and regional differences, the Asian area is the biggest export regionamong all continents. Too much dependence on these areas would cause much higher risk.2、Imbalance of export commodity structureLower cost caused by cheaper labor force and cheaper resources, used to bean comparative advantage of China, now seems to be a comparative advantage trap. Processing trade takes main part of China’s export trade, which means we do more work but earn less profit, and China’s export trade has to rely much more on foreign-funded enterprise. It would also discourage Chinese labor from getting more education, that’s a vicious circle. Labor-intensive, low-tech products and resource-consuming products account for a large proportion among export commodities, like toy, data processing equipment, apparel, textiles, iron, steel, disposable chopsticks and so on. These primary commodities, which lack of competitive power, do bring some profit in the short term, but will do much harm in the long term. That is not sustainable.3、Trade BarriersAs China’s export trade expands and increases, China’s trade surplus withother countries and its foreign-exchange reserves continue to grow. Thesecountries apply trade protectionism to fix their passive trade balance withChina, which causes much more trade barriers on China’ export. For example, there are always an avalanche of anti-dumping actions against China.4、Appreciation of RMBUnder the pressure of foreign-exchange reserves and political reason, RMB keeps appreciating, weakening China’s exports.Causes（1）Service industry development lags behind（2）High value-added services lag behind( 3 ) lack of service trade talents( 4 ) the secluded and shengxing international service trade barriers( 5 ) some service industries have monopoly power, low efficiencyAdvice1、 Adjust the industrial structure of our countryA country's export commodity structure and its industrial structure has a very close connection, unreasonable structure of export commodities, the root cause lies in optimizing the export commodity structure in the absence of strong industry support. So want to implement the strategy of sustainable development of foreign trade, adjust the structure of export commodities, to realize the change of export growth mode, the most fundamental or to adjust the industrial structure, realize the industrial structure adjustment and upgrade. Gradually formed export pillar industries (such as agricultural and sideline textile traditional industries), exports (mechanical and electrical industry, leading industry export strategic industries (high and new technology industries) three major export industry group, to assume the gradient development situation, and to high technical content of the industry transfer as soon as possible. Corresponding, gradually formed the traditional technology, moderate and progressive transmission of high-tech technical structure, export and trade advantages for our country to create new industry support and technical support. At the same time, to create the environment of industrial structure, not only to optimize the market rules, also need government industrial policy, trade policy, financial policy and relevant policy support2、 Establish competition advantage viewAt present, our country's mechanical and electrical products and high-tech products less competitive, low added value, thus in the "poverty" trap. Textile products technology content is low, the elasticity is small, easy to replace, being anti-dumping problem, all of these aspects can reflect our country enterprise competitiveness is very weak. Our country's export strategy must be from the strategy of comparative advantage to competitive advantage strategy tilt; Attach importance to the role of government in formation competitive advantage; Further deepen the change of the foreign trade system, and to implement export trade subjectregistration system, to relax the limitation on the subject of trade, reduce the export tax rebate rate, imposing new export tax rate policy. The implementation of these policies can improve our country export commodities structure, improve the level of export commodity and price, change a lot and the old pattern of labor-intensive products export resource consumption. And as soon as possible establish export credit insurance, export enterprises of foreign exchange risk shifting to the insurance company, for the enterprise technical innovation to create favorable material conditions3、 To promote the export of high-tech products in China Our country export commodities structure compared with developed countries, the difference is mainly manifested in the difference of traditional industrial manufactured goods and high technology products and low value-added, low technology content and rough machining the difference of labor-intensive products and capital and technology-intensive products. High-tech products not only high prices, profits, and is the key of the export commodity structure optimization. Therefore, we in the readjustment of the structure of the commodities at the same time, to take advantage of advances in technology factors of efficiency and change of factor endowments, thus creating new comparative advantage. Want to have a purpose, planned and focused to foster a number of high-tech projects, and make it become the our country export strategy of the future, make our country's export advantage gradually by the resources and labor-intensive products to capital and technology intensive products, and to have more high value-added and high-tech products, to completely change the disadvantage position in the international division of labor in our country.4、 Vigorously develop trade in servicesOur country should put the development of foreign trade in services as the optimization of China's foreign trade commodity structure is an important content. To increase the share of trade in services, especially to develop the producer services, for the production of specialization, socialization and support the optimization of industrial structure. Accelerate the pace of domestic service sectors, gradually raising service industries suchas finance, telecommunications, insurance market access restrictions, to improve the quality and competitiveness of service industry as a whole. Speed up the development of tourism, construction, transportation and other advantages in services exports, give full play to the advantages of rich human resources, vigorously develops the service of processing trade, actively undertake international service outsourcing.。
The Impact of Industrial Revolution on Society
The Impact of Industrial Revolution onSocietyThe Industrial Revolution had a profound impact on society, shaping it in ways that still resonate to this day. This period of dramatic change took place in the late 18th century and continued through the 19th century, transforming technology, industry, and life in general. In this article, we will delve into the various ways in which the Industrial Revolution impacted society.Technological InnovationsOne of the most significant impacts of the Industrial Revolution was the development of new technologies that forever altered the course of history. The steam engine, for example, revolutionized transportation, allowing goods and people to move more quickly and efficiently. This laid the foundation for the growth of railways and further advancements in transportation technology.Other technologies that emerged during this period include the telegraph, which transformed communication by enabling messages to be sent quickly over long distances. This paved the way for modern communication technologies, such as smartphones and the internet.The Industrial Revolution also saw advancements in manufacturing technology, such as the development of the power loom, which automated the production of textiles. This, in turn, led to the growth of the textile industry, and an increase in the availability and affordability of clothing.Economic ImpactThe Industrial Revolution also had a significant impact on the economy. Prior to this period, the majority of people lived in rural areas and depended on agriculture for their livelihoods. The factories that emerged during the Industrial Revolution created jobs anddrove urbanization, resulting in a shift from an agricultural-based economy to an industrialized one.As machines began to replace manual labor, production increased, leading to greater efficiency and productivity. The growth of the economy paved the way for a middle class, composed primarily of factory owners and managers, to emerge.However, the growth of factories and machines also ushered in a new era of labor exploitation, with workers forced to work long hours in unsafe conditions for low pay. This led to the growth of labor unions and the emergence of labor laws that sought to protect workers' rights.Social ImpactThe Industrial Revolution had a far-reaching social impact as well. As factories and machines replaced manual labor, traditional gender roles came under scrutiny. Women, who were once relegated to domestic work, began to enter the workforce, challenging the preconceived notions of gender roles and paving the way for greater gender equality in the workplace.The rapid pace of urbanization also brought about changes in social structures. As people moved from rural areas to cities, they found themselves living in close proximity to people of different social classes, leading to the breakdown of traditional social hierarchies.Additionally, the growth of urban areas led to increased crime, as poverty and unemployment surged in the cities. This led to a greater focus on law enforcement and the development of modern policing.Environmental ImpactLastly, the Industrial Revolution had a significant impact on the environment. As factories and machines were powered by fossil fuels, such as coal, pollution levels increased dramatically. The growth of urban areas led to deforestation and the destruction of natural habitats.Additionally, the production of goods and the expansion of transportation infrastructure resulted in greater use of natural resources, leading to resource depletion and environmental degradation.ConclusionThe Industrial Revolution was a period of dramatic change that had far-reaching impacts on society. The technological innovations that emerged during this period paved the way for many modern technological advancements, while changes in the economy led to the growth of a new middle class. The social impacts of the Industrial Revolution challenged traditional gender roles and social hierarchies, while the environmental impacts led to increased pollution and resource depletion.Overall, the Industrial Revolution was a period of immense change that shaped the course of history. While some of its impacts were positive, such as the growth of technological advancement and the expansion of the middle class, other impacts, such as labor exploitation and environmental degradation, were negative. Nevertheless, the Industrial Revolution continues to be a fascinating period of history that remains relevant to our modern lives.。
口译段落翻译+词组
中国坚定不移地走和平发展道路，是基于中国国情的必然选择。
1840年鸦片战争以后的100多年里，中国受尽了列强的欺辱。
消除战争，实现和平，建设独立富强、民生幸福的国家，是近代以来中国人民孜孜以求的奋斗目标。
今天的中国虽然取得了巨大的发展成就，但人口多，底子薄，发展不平衡，仍然是世界上最大的发展中国家。
推动经济社会发展，不断改善人民生活始终是中国的中心任务。
坚持走和平发展道路，是中国实现国家富强、人民幸福的必由之路。
中国人民最需要、最珍爱和平的国际环境，愿尽自己所能，为推动各国共同发展作出积极贡献。
It is an inevitable choice based on its national conditions that China persists unswervingly in taking the road of peaceful development. During the 100-odd years following the Opium War in 1840, China suffered humiliation and insult from big powers. And thus, ever since the advent of modern times, it has become the assiduously sought goal of the Chinese people to eliminate war, maintain peace, and build a country of independence and prosperity, and a comfortable and happy life for the people. Although it has made enormous achievements in development, China, with a large population, a weak economic foundation and unbalanced development, is still the largest developing country in the world. It is the central task of China to promote economic and social development while continuously improving its people's life. To stick to the road of peaceful development is the inevitable way for China to attain national prosperity and strength, and its people's happiness. What the Chinese people need and cherish most is a peaceful international environment. They are willing to do their best to make energetic contributions for the common development of all countries.中国实行改革开放政策 29 年来，经济和社会发展取得了举世瞩目的成就。
口译主题 环保2-汉译英(当今世界..)
1.C-E interpreting (get familiar to the sentence structure in the switching and to the status quoof C’s env pro strategies)2.After class practicing: work with partner, with one sight-interpreting from C to E and theother listening what u have interpreted before interpreting back from E to C.A speech on China’s env pro strategies and achievements.综述，战略，重点工作成绩介绍：工业，农业，生态; 国际职责（大国态度）。
女士们、先生们：当今世界，环境保护已成为各国政府和各界人士共同关心的问题。
过去10年，海平面升高和森林砍伐的速度都是前所未有的；生态恶化、物种灭绝、臭氧层被破坏、温室效应、酸雨、土地沙漠化等一系列环境问题已经严重影响到人类的生存环境和身体健康。
L and G,Nowadays, environmental protection has become the common issue that concerns the governments of many countries and people of all walks of life. Sea level rose and forests were destroyed at an unprecedented rate during the last decade. A series of environmental problems, such as the deterioration of the ecosystem, the extinction of bio-species, damage to the ozone layer, the green-house effect, acid rain and desertification, have posed a serious threat to human living conditions and health.环境恶化造成的问题之一就是缺水。
A research on the evolvement of industrial structure and economic growth of He'nan Province, Ch
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五大未来产业 英语
五大未来产业英语The five major future industries can be categorized as follows:1. Artificial Intelligence and Robotics: This industry involves the development and implementation of intelligent machines and systems that can perform tasks that typically require human intelligence. This includes areas such as machine learning, natural language processing, and autonomous vehicles.2. Biotechnology and Genetic Engineering: This field focuses on the manipulation of living organisms or their systems to develop products and technologies that can improve human health, agriculture, and the environment. This includes gene editing, personalized medicine, and bioinformatics.3. Renewable Energy: This industry encompasses the development and utilization of sustainable and clean energysources such as solar, wind, and hydroelectric power. The goal is to reduce reliance on fossil fuels and mitigate the impact of climate change.4. Internet of Things (IoT) and Smart Technology: This sector involves the interconnection of everyday devices and objects through the internet, enabling them to send and receive data. This includes smart homes, wearable technology, and industrial automation.5. Space Exploration and Commercialization: Thisindustry focuses on the exploration and utilization ofouter space for scientific, commercial, and recreational purposes. This includes satellite technology, space tourism, and asteroid mining.These five major future industries are expected to play a significant role in shaping the global economy anddriving technological innovation in the years to come.。
现代产业体系_英语
The modern industrial system is a complex and dynamic structure that plays a crucial role in the development of a country's economy. It encompasses various sectors, including manufacturing, agriculture, technology, and services. This article aims to provide a comprehensive overview of the modern industrial system, its components, and its significance in the global economy.I. IntroductionThe modern industrial system has evolved significantly over the past few centuries, from the Industrial Revolution to the current era of digital transformation. It has transformed the way goods and services are produced, distributed, and consumed, leading to economic growth, technological advancements, and improved living standards. In this article, we will explore the key aspects of the modern industrial system, its components, and its impact on the global economy.II. Components of the Modern Industrial System1. Manufacturing SectorThe manufacturing sector is a vital component of the modern industrial system. It involves the transformation of raw materials into finished products through various processes, such as assembly, fabrication, and production. Manufacturing industries include automotive, electronics, textiles, and machinery, among others. The manufacturing sector contributes to job creation, technological innovation, and economic growth.2. Agricultural SectorThe agricultural sector is another critical component of the modern industrial system. It involves the production of food, fiber, and other biological products from the land and water. The agricultural sector has evolved from traditional farming practices to modern techniques, such as precision agriculture and biotechnology. It plays a crucial role in ensuring food security, economic stability, and environmental sustainability.3. Technology SectorThe technology sector is a rapidly growing component of the modern industrial system. It encompasses various fields, such as information technology, biotechnology, and nanotechnology. Technological advancements have revolutionized the way industries operate, leading to increased productivity, reduced costs, and improved quality of goods and services.4. Service SectorThe service sector is the largest component of the modern industrial system, accounting for a significant portion of the global economy. It includes industries such as finance, healthcare, education, and entertainment. The service sector contributes to economic growth by generating employment, creating value, and facilitating the exchange of goods and services.III. Significance of the Modern Industrial System1. Economic GrowthThe modern industrial system has been a driving force behind economic growth worldwide. It has led to increased productivity, job creation,and technological innovation, which have all contributed to the rise in per capita income and living standards.2. Technological AdvancementsThe modern industrial system has spurred technological advancements across various sectors. These advancements have led to the developmentof new products, improved production processes, and increased efficiency, which have all contributed to the growth of the global economy.3. Job CreationThe modern industrial system has created numerous job opportunities across various sectors. It has enabled people to transition from traditional agricultural practices to modern industries, leading to improved living standards and economic stability.4. Environmental SustainabilityThe modern industrial system has also contributed to environmental sustainability. It has led to the development of cleaner technologies, such as renewable energy and waste management, which have helped reduce the environmental impact of industrial activities.IV. Challenges and OpportunitiesDespite its numerous benefits, the modern industrial system facesseveral challenges, including:1. Globalization and Trade WarsThe increasing interconnectedness of the global economy has led to trade wars and protectionism, which can hinder the growth of the modern industrial system.2. Technological DisruptionTechnological disruption, such as automation and artificial intelligence, has led to job displacement and increased income inequality.3. Environmental ConcernsThe modern industrial system has contributed to environmental degradation, which poses a significant threat to the planet's health and well-being.However, there are also opportunities for the modern industrial systemto overcome these challenges:1. Innovation and ResearchInvesting in innovation and research can lead to the development of new technologies and solutions that can address the challenges faced by the modern industrial system.2. Collaboration and PartnershipsCollaboration and partnerships between governments, industries, andcivil society can help create a more sustainable and inclusive modern industrial system.3. Education and TrainingInvesting in education and training can help prepare the workforce for the changing demands of the modern industrial system.V. ConclusionThe modern industrial system is a complex and dynamic structure that has played a crucial role in the development of the global economy. Its components, including manufacturing, agriculture, technology, and services, have contributed to economic growth, technological advancements, and improved living standards. However, the modern industrial system also faces several challenges, including globalization, technological disruption, and environmental concerns. By investing in innovation, collaboration, and education, we can overcome these challenges and create a more sustainable and inclusive modern industrial system for the future.。
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The future of industrial structure in Japan and the United States of America $Noriyasu Yamada *JETRO New York,1221Avenue of the Americas,New York,NY 10020,USAReceived 12November 1998;accepted 25February 2000As of now,there is a clear difference in the industrial structures of the US and Japan.The share of manufacturing industries as a percentage of GDP is 17in the US as compared with 24in Japan.Japan's share is relatively high.On the other hand,the weight of Retail Finance,Real Estate and Service Industries of the US far exceeds that of Japan.Total GDP share of these four sectors is 48%here and 40%in Japan.However,an increase in the weight of the non-manufacturing sector is inevitable in Japan.It is not appropriate to predict which individual manufacturing sector will decrease or increase in importance.So here,I would like to re¯ect upon Japan's strengths and weaknesses,which could provide some guidance to overview the future structure of the Japanese economy.1.The scale of economyJapan is the second-largest economy in the world trailing only America.It stands at 60%of the US and is almost equal to the economies of Germany,France,and UK combined.Russia is about 7%of Japan.I mention this because the scale of the domestic market is a de®nite advantage for certain industries where consumption takes place at the site of production.With regard to the money market,Japan is the biggest creditor nation in the world with net assets of about US$900billion.Also,Japan has maintained a high household saving rate.Its average of 13±14%in recent years compares with 5%of the US.The high ratehas Japan and the World Economy 12(2000)189±192$Presented at The Center for Japan±US Business and Economic Studies MBA Public Lecture,New York University on 12November 1998.The journal will publish lectures and short papers by renowned administrators,statesmen and scholars who have influenced economic policy.This paper is one of those series of policy papers.*Tel.: 1-212-997-0400;fax: 1-212-998-0464.E-mail address :yamadan@ (N.Yamada)0922-1425/00/$±see front matter #2000Elsevier Science B.V .All rights reserved.PII:S 0922-1425(00)00035-9190N.Yamada/Japan and the World Economy12(2000)189±192enabled Japanese industry to keep up a high level of capacity investment.These overall conditions will continue well into the coming century.cation and work forceThe general education level of the Japanese people is high,and Japan's literacy rate is among the highest.Japanese students have consistently scored well on the international tests in mathematics and science,but not in English.We are not good at communicating with non-Japanese.As to the work force,lifetime employment makes employers avoid simple layoffs in favor or means designed to retain employees,such as workplace changes within some companies and wage adjustment.This has no doubt helped maintain high worker morale. Morale among Japanese workers is indeed high.Japanese education and its work force has made it possible to keep a lot of competitive small-and medium-sized enterprises providing high quality,high function and low-priced parts.However,this bene®t received by Japanese assembly manufacturer's has been made open to any foreign assembler under the system of the so-called`open network type' relations.This has been developed on a world wide basis.But,not all is well here.In the manufacturing sector,there has been a steady decline in the share of people interested in`making things'.Concomitantly,there has been a general decline in the overall level of skills cultivated and acquired.Lifetime employment,which along with the seniority system,has been the mainstay of Japan's employment practice,may have contributed to high employee moral and social stability.However,the fear is that low labor mobility has hindered the allocation of the right people to the right place of work.The seniority system also creates imbalances between productivity and wages. With regard to the ageing society,I can mention that the proportion of people who are 60years or older who remain in the workforce is44%in Japan,24%in the US and7%in Germany.3.Science and technologyJapan has maintained a high level of expenditure on R&D.The total of such expenditure as a share of GDP is3%,much higher than the average of2%in the EU and the US.Japan has held a dominant position in production technologies,mainly process-management technologies.They have been developed to satisfy very severe requirements from the domestic customers.In spite of high wages and salaries in Japan,labor productivity has been at the top level in the world due to advanced process technologies and excellent production equipment. However,Japan is far from overcoming some of the weaknesses that were started long ago. Japan is weak in pre-commercial innovation and software technology.Furthermore,Japan has performed poorly in areas pushing the Japanese technologies for adaptation as international standards.N.Yamada/Japan and the World Economy12(2000)189±192191 4.Intermediate summaryIn general,fundamentals remain stable in the manufacturing sector.However,structural reforms are inevitable in the®nancial sector.In cleaning up the®nancial problems,Japan should proceed with overall restructuring of the economy including the over capacity problems of the material industries.Restructuring of the Japanese economy will be developed on a world wide dimension.Globalization of the world's economy has developed extensively since the collapse of the Berlin Wall.And it will grow even deeper than today in terms of exchange of money and technology such as foreign investment,technological cooperation and M&A.5.Investment imbalanceAccording to statistics for®scal1997,Japan's direct investment overseas was US$54 billion.Investment into Japan,however,was only US$5billion.This is a ratio of10:1and a major imbalance.The Japanese market has long been considered regulated and costly, making foreign participation extremely dif®cult.Today neither of these conditions apply.Japan has been changing steadily.Now,foreign investors can enjoy a better business environment than ever before in Japan.I would not like to limit the scope of the industries in which the changes in Japan will be attractive.But if you take into account Japanese market.characteristics,namely the size of its economy, education,workforce and R&D,then let me suggest four promising areas for foreign investment.They are retail,high-tech industries(such as those based on software and biotechnology),industries related to Japan's ageing society(such as medicare and health care)and the®nancial services industry.Already,some American companies,like Toys-R-Us,Netscape,P®zer and GE Capital have shown good examples of American success in Japan.6.American situationWith regard to the American economy,there are little problems for the moment.We understand that the US succeeded in offsetting the problems of its manufacturing sector by investment in information technology.Many companies such as Boeing and Ford have succeeded in reducing production costs by utilizing information technologies with the introduction of the`just in time delivery system.'For example,Boeing can now deliver its747in18months where it once took them 36!Let me make another observation.I have noticed the deepening and enlargement of NAFTA with regard to the future of the US,Japan,as well,is stressing economic integration with its neighbors.Japan will proceed with the vertical division of industries among the countries of APEC,neighboring countries like Korea and ASEAN countries as well as member countries of NAFTA.For example,concerning the refrigerator and TV,192N.Yamada/Japan and the World Economy12(2000)189±192Japan became a net importer several years ago.Most of the imports are from Japanese af®liates located in ASEAN.As to the US and Japan,Japanese automobile companies produced11million cars in Japan with2.4million produced in the US last year.In1989,their production level was 13.5million in Japan and0.9million in US.Total production has stayed at16million for the past10years taking into account operations in Europe and Asia.I will end by addressing the trade imbalance between the two countries.Simply,the trade imbalance can be explained by the gap in investment and savings of both countries.Both countries are excessive:Japan in its savings and America in its consumption!I do not see this pattern changing quickly.So,the current huge imbalance will continue for a while.。