Underwear Model Shows Aging Economy How to Grow: William Pesek – Bloomberg

Meeting some friends today in Ginza. Ginza is ...

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Japan’s economy may be weak, its leaders lacking, the population aging, but the country sure has some amazing companies.

Rather than despairing, Japan ought to look beyond the aging industrial mainstays to learn how to thrive in a dynamic world economy: I offer up Uniqlo.

The graybeards who control Japan Inc. have been slow to embrace Fast Retailing Co.’s expanding brand, or to recognize what they might learn from it. Japan liked being a technology powerhouse, not a bargain clothier that relies on cheap Chinese labor. Yet Japan can use all the fresh thinking it can muster these days and, financially, the end justifies the means. On another list, Forbes magazine ranks Fast Retailing’s President Tadashi Yanai as Japan’s second-richest man.

The lessons to draw from Yanai and Uniqlo are obvious. The markets of the future are outside Japan, and the provincialism that rules Japanese management perpetuates the forces of deflation.

via Underwear Model Shows Aging Economy How to Grow: William Pesek – Bloomberg.

Strange Random Japan Quote:

“Vision without action is a daydream. Action without vision is a nightmare.” – Japanese Proverb

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Posted on September 25, 2011, in Article and tagged , , , , , , , . Bookmark the permalink. 1 Comment.

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