From the editor
By the time you read this, cherry blossom will have appeared in Tokyo. It will reach Japan’s north a little later. But few people anywhere in Japan will have the stomach for festivities this year.
Since the earthquake and tsunami, our thoughts have been with the tens of thousands of victims, and the plight of the survivors, many of who have lost absolutely everything. The early days after the earthquake, with heartbreaking TV pictures, anxiety over radiation, and food and electricity shortages in Tokyo, were an experience none of us will easily forget. I am sure I was not the only person who felt powerless in the face of events.
Yet many EBC companies launched aid initiatives almost immediately. One firm with an operation in Kobe sent goods with hand-written messages of encouragement from customers and staff. EU companies with offices in Sendai witnessed the disaster first hand and started relief efforts on their doorstep. Several of our contributors were among the first journalists into the disaster zone. One told me how he came home a week later and “hugged his children till they went blue”.
Amidst huge disruption across eastern Japan, EU companies put business continuity plans into action, moving operations west. Many among the foreign business community took the advice of HQs and their embassies, not to mention panicky relatives and friends back home, by temporarily leaving Japan.
At the time of writing, life and business life in Tokyo is slowly returning to normal. We can only hope for a minimum of disruption from power cuts and the still perilous situation at the Fukushima nuclear power station.
Overseas commentators have been unanimous in their admiration for Japan’s resilience and solidarity during this crisis. Japan’s stoicism has indeed been astonishing. In what other nation would citizens punctually submit their tax returns during a nuclear panic? At the height of the Fukushima crisis, I received a carefully hand-addressed letter from TEPCO apologising for not checking my electricity meter that week. I didn’t know if to laugh or cry.
What lies in store for the Japanese economy? Dan Slater addresses that topic in his column this month. Data collected before the disaster show that the economy was actually picking up. The immediate challenges for the economy will be huge. But in the medium and long term, so too will be the opportunities for change.
Even as we struggle to come to terms with these tragic events, we can and should hope for reform and an opening up of the Japanese economy. The government has already relaxed import regulations on certain emergency goods and allowed a team of foreign doctors to practice in Japan. The swift acceptance of emergency support from not just Europe, but also many other countries, is a hopeful sign of a new openness.
Japan needed change before 11 March, and needs it even more now. The EBC has already drawn up a list of draft regulations to speed both immediate relief and long term economic recovery. It barely needs saying that a healthy economy will help everyone in Japan. There will be many ways for EU companies to contribute.
Speaking personally, during a decade in Japan, I have seen a slow but unmistakable decline in Japan’s economy and self-confidence. It was hard not to think that Japan had lost its way.
Yet, this issue has the word “recovery” on its cover because, as well as recovery from the immediate devastation, there is a chance for a more profound renaissance in Japan. I’m sure that EURObiZ readers want to see that happen – and be part of it.
Above all, the events of the last week have been a reminder of Japan’s innate strength. When all the debris is finally cleared away, Japan will surely show the world of what it is capable.