Chairman's message

Coming into the 21st century, the world has moved away from the post-Cold War dominance of the US and toward a more multilateral and collaborative geopolitical scenario. Emerging economies are gaining presence, as seen by their inclusion in the G20. Advancing information technology and increasing globalization have helped usher in an unprecedented deep interconnection between the economies and societies of so many nations.

Meanwhile, the issues faced by each country and region, such as surging prices for crude oil and other commodities or currency problems, come with their own unique circumstances, likely ruling out any overarching comprehensive resolution to rule out inequalities.

The US continues to steer fiscal and monetary policies toward its key objectives of maximum employment and price stability. Meanwhile, in Europe, which had been enjoying numerous advantages from the formation of the EU, the Greek debt crisis that erupted in May 2010 spread to other member nations, forcing some to request financial support. Europe faces difficult fiscal and monetary policy decisions given the constraints of the euro monetary union.

Emerging economies have been maintaining overall high growth rates amidst stagnation of the industrialized nations. On the other hand, rising real estate prices and cost of living are raising inflation concerns. In Asia, solid domestic demand continues to support high growth, particularly in China. Although this has made China the world’s second-largest economy in GDP terms, the country is pressed to do more to control inflation, reduce regional disparities, and protect the environment.

Japan, meanwhile, is facing graying demographics and seems to be heading toward a considerable population decline. The government must reshape the country to make stable economic growth compatible with a social security system encompassing pensions, healthcare, and nursing care, under increasingly stringent fiscal constraints.

In this age of uncertainty, there are more and more expectations on the role of a think tank to develop viable approaches to wide-ranging issues.

We at Daiwa Institute of Research are a group of professionals committed to providing information services and optimal solutions that anticipate the changing needs of our time, making the best use of our global network and top-quality capabilities in research and IT systems development.

Daiwa Institute of Research
Chairman of the Institute
Toshiro Mutoh

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