Chairman KOKUBU Fumiya (Chairman of the Board, Marubeni Corporation)
Just as the world was finally emerging from the pandemic emergency, 2022 became a year of turmoil when Russia’s invasion of Ukraine sparked a new crisis. Even in the face of extreme uncertainty, the US and other major economies have responded to this crisis with effective policies. I welcome the firm resolve they have displayed, which has exceeded expectations. However, multiple factors including prolonged supply constraints have hiked prices, and dealing with these increases has become a global issue. As labor markets are overheating, many countries have inevitably maintained tight monetary policies, even now forcing them to steer a difficult course in implementing policies that balance the economy, prices, and financial stability. From the perspective of unwinding policies adopted under economic urgency, 2023 will be a crucial year for the world economy.
The Ukraine crisis has opened up new rifts in the international community, which was already facing deeper divides due to factors such as US-China friction. The world has been unable to unite in responding to violence that seeks to militarily control a sovereign nation, and divisions in the international community are widening. There is concern that greater geopolitical risks will continue to weigh heavily on global social and economic activity for a prolonged period.
However, such increasingly tough circumstances can be regarded as broadening the role played by Shosha. The knowledge and experience that Shosha possess can be applied in various settings contributing to resolution of social issues, for example, when considering how to incorporate the concept of economic security into supply chains, achieve an energy transition that reconciles carbon neutrality with economic efficiency, and support the shift to a digital society. Systems for free trade and investment are of course essential elements for sustainable global prosperity. The JFTC’s essential stance of seeking to maximize free trade will remain unchanged.
Under the banner of “LEAPING AHEAD INTO A SUSTAINABLE WORLD,” the JFTC has engaged in dialogue with many governments, issued policy recommendations aimed at improving the business environment, and supplied information to its members. Bearing in mind expansion of our three functions—government relations, member relations, and public relations—we will continue our efforts to meet the needs of all our stakeholders by responding to the various issues that Shosha face. Our social contributions via Action for a Better International Community (ABIC) have been widely acclaimed, and we will devote even more energy to such activities.
I hope we can continue to count on your understanding and support for the JFTC’s activities.
Just as the world was finally emerging from the pandemic emergency, 2022 became a year of turmoil when Russia’s invasion of Ukraine sparked a new crisis. Even in the face of extreme uncertainty, the US and other major economies have responded to this crisis with effective policies. I welcome the firm resolve they have displayed, which has exceeded expectations. However, multiple factors including prolonged supply constraints have hiked prices, and dealing with these increases has become a global issue. As labor markets are overheating, many countries have inevitably maintained tight monetary policies, even now forcing them to steer a difficult course in implementing policies that balance the economy, prices, and financial stability. From the perspective of unwinding policies adopted under economic urgency, 2023 will be a crucial year for the world economy.
The Ukraine crisis has opened up new rifts in the international community, which was already facing deeper divides due to factors such as US-China friction. The world has been unable to unite in responding to violence that seeks to militarily control a sovereign nation, and divisions in the international community are widening. There is concern that greater geopolitical risks will continue to weigh heavily on global social and economic activity for a prolonged period.
However, such increasingly tough circumstances can be regarded as broadening the role played by Shosha. The knowledge and experience that Shosha possess can be applied in various settings contributing to resolution of social issues, for example, when considering how to incorporate the concept of economic security into supply chains, achieve an energy transition that reconciles carbon neutrality with economic efficiency, and support the shift to a digital society. Systems for free trade and investment are of course essential elements for sustainable global prosperity. The JFTC’s essential stance of seeking to maximize free trade will remain unchanged.
Under the banner of “LEAPING AHEAD INTO A SUSTAINABLE WORLD,” the JFTC has engaged in dialogue with many governments, issued policy recommendations aimed at improving the business environment, and supplied information to its members. Bearing in mind expansion of our three functions—government relations, member relations, and public relations—we will continue our efforts to meet the needs of all our stakeholders by responding to the various issues that Shosha face. Our social contributions via Action for a Better International Community (ABIC) have been widely acclaimed, and we will devote even more energy to such activities.
I hope we can continue to count on your understanding and support for the JFTC’s activities.