According to figures put together by the 21st Century Public Policy Institute, a think tank linked to Japan’s Keidanren business federation, Japan might no longer fall among the world’s top economies by the year 2050. A shrinking and aging population and a decline in productivity are listed as factors influencing the downgrade.
The institute predicts that in a matter of 40 years Japan’s GDP could dip to about ⅙ that of China and the U.S, and ⅓ that of India. However, if policymakers could boost workforce participation by women to the same level seen in more gender-progressive countries such as Sweden, Japan could be the 4th largest economy by mid-century. The report states that if women did not quit their jobs due to marriage or childbirth, Japan’s workforce could see an increase of up to 4.5 million people in a matter of years.
Of course, achieving this goal would require a massive change in Japan’s corporate culture. That should be eezy-peezy.