The entire world is facing enormous economic challenges due to major geopolitical changes, agreed the interlocutors at a panel organized in Davos, which was also attended by the Prime Minister. Milojko Spajic.
The World Economic Forum is being held in this Swiss city.
Japan was in the spotlight, and the Montenegrin Prime Minister emphasized that this country has always found a way to adequately respond to all economic challenges.
"Japan has always been an island of security and predictability, no matter how uncertain the times have been, which is why I envy Japan. They have always been a safe, predictable partner. After several decades, inflation is looming in their country, and unlike the rest of the world, they want inflation because it will trigger a cycle of large investments by Japanese companies," said Spajić, who began his opening remarks in Japanese, "to the delight of the audience," as his office announced.
Spajić announced at the IX that Japan should be Europe's closest economic partner, in a partnership based on shared values - democracy, free market and the rule of law. "The EU market of 20 trillion euros and the Japanese market of 600 trillion yen will have great synergy, and small countries like ours will benefit the most from such a large common economic space," he wrote.
The Japanese government, as announced by the Prime Minister's Office, faces several open issues, because after decades of deflation, the situation is changing.
"Now we need to make the economy grow, to enter such a cycle. We have not yet come out of deflation, but we are at a crossroads. Crisis management is very important and numerous cases have shown us this - Covid and natural disasters. That is why our system must be sustainable, that is why we are waiting for the creation of a new Japan in economic terms," the words Rioseija Akazave, Minister for Economic and Fiscal Policy of Japan.
His job is also to increase salaries, as Spajić's cabinet explains, because Japan is "facing another major problem" - a demographic crisis, or a rapid decline in the population.
"We need to increase wages to ensure economic stability for young people, which will make it easier for them to decide to get married. My task is to find a way to increase wages and I will do that," Akazawa promised, while Spaji explained that due to "increased optimism among young people, among other things, Montenegro has increased the minimum and average wage."
One of the topics was the change of administration in the United States and the announcements by new President Donald Trump of a turnaround in relation to numerous geopolitical and economic issues.
"Trump's last term made global trade somewhat more complicated, but it did not decrease in overall numbers. China cooperated more with Asian countries, and they with the rest of the world, which showed that changes had occurred, but did not jeopardize business. Something similar could happen now," said the president of the Mitsui company. Takeshi Hashimoto, who also explained that Japan is the country that invests the most in the US, but also cooperates a lot with China.
"Our companies have extensive economic cooperation with China, many of our production facilities are located there, so China is an important partner for us. On the other hand, we also have to pay attention to geopolitics and take care of our national interests," said Hashimoto.
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