The world is undergoing rapid, unexpected, and dramatic change. While economies have generally been doing well, they are not without turmoil. Social and political trends are straining systems, alliances, and frameworks that have shaped the world and defined how we operate for more than half a century. Prosperity is precarious and the future is clouded. To help bring clarity to 2020, Bloomberg held a summit entitled The Year Ahead on December 5 at its office in Tokyo. The event was also held in New York City November 6–7, and will take place in Davos, Switzerland, on January 21. Covering a range of topics and industries, the various panels and spotlight interviews at the Tokyo session put a Japan focus on issues affecting our connected world. The first panel, Into the Next Decade, set the stage by bringing together three strong voices: Kathy Matsui, vice-chair at Goldman Sachs Japan Co., Ltd.; Yumiko Murakami, head of the Organisation for Economic Co-operation and Development Tokyo Centre; and Anoop Sagoo, group operating officer for growth markets at Accenture plc. They focused on the macro trends—in areas of diversity, technology, and the environment— that will define global business and investor sentiment this year and throughout the decade. BUSINESS AND DIVERSITY One of the most visible trends of recent years is that of greater diversity. Whether in education, entertainment, or the
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workplace, the value of inclusion—and the strength it gives an organization—is being recognized more broadly than ever. But bringing everyone around to this way of thinking is not easy, and it is more difficult in some cultures than others. “Today, the term diversity is part of the Japanese vernacular,” Matsui said, recounting her own experiences returning to work after the birth of her first child. “Japan used to have one of the lowest female participation rates in the developed world. Now it is among the highest.” Twenty years ago, the rate was 66 percent. Today it is 71, surpassing that of the United States and the eurozone. That’s an important change when it comes to the economy. As Matsui explained, “Our most updated analysis shows that, if you can close the gender–employment gap, you can boost Japan’s GDP by as much as 15.5 percent.” Thanks to a push by the Japanese government and forwardlooking companies, there have been many gains—including an increase in transparency. Matsui cited the government’s move in 2016 to require companies to disclose gender-related statistics and set diversity goals. “These are not quotas, necessa rily, but it’s a beginning. You can’t move the needle if you don’t know where the needle lies,” she said. “We all know about the dearth of women in leadership positions—not enough managers, not enough politicians. We have unconscious biases still very deeply embedded in Japanese society. There is not enough daycare, not enough caregiving capacity. But at least we’ve got the conversation going.” The context for this diversity discussion, she noted, has moved away from corporate social responsibility and human rights into the financial arena, where it has become an economic and business imperative.
