The structure of the Chinese economy changed dramatically between 2005 and 2009.  It changed from an export-investment leading economy to a domestic-demand leading economy.  Before 2004 China was a huge factory because of its cheap and abundant labor.  After 2010 it has become a huge market because of the rapid increase of their income level.

Not only the rapid growth of China’s GDP, but the rapid increase of the number of middle-class-income people in China whose GDP per capita surpass 10 thousand USD gave Japanese companies many business chances since 2010. Even under the worst political condition between Japan and China after Senkaku territorial dispute most of Japanese companies keep increasing their investment in China because Chinese local governments are so eager to invite the investment of Japanese companies. If Japan and China can realize the normalization of Sino-Japan relations, their win-win relationship should be accelerated.

The Xi Jinping’s administration started officially in March. Chinese ordinary people’s complaint against the Chinese government seems very strong mainly because the former administration put off the resolution of many important problems including the corruption of governmental officials, environmental deterioration, economic inequality. Xi Jinping’s administration should work on these difficult problems. In such a situation it is important for China to normalize Sino-Japan relations to enhance the economic stability.

Kiyoyuki Seguchi is the Research Director of the Canon Institute for the Global Studies. His research focuses on the Chinese economy and relations between the United States, China and Japan. He worked for the Bank of Japan from 1982 to 2009. He was the Chief Representative of the Representative Office of BOJ in Beijing from 2006 to 2008, the international visiting fellow at RAND Corporation (Los Angeles, CA) from 2004 to 2005. He received a bachelor’s degree in economics from the University of Tokyo.

Adopting a child, as an alternative to bearing a child, is a widely accepted means of creating a family in America today. By contrast, it is surprisingly uncommon for married couples in Japan to adopt an infant and raise the child “as their own.” In my estimates, the rate of unrelated child adoption per 10,000 births in recent years was about 170 in the U.S. and 6 in Japan. In this study, I use a framework of family economics to examine the evolution of child adoption in the U.S. and Japan from 1950 to 2010. I compile historical statistics to compare the trends in child adoption and explore demand-side, supply-side, and institutional factors underlying the observed trends. I find that, in the U.S., there has been an “excess demand” for adoptable infants throughout the postwar period and thus the trends were essentially driven by the availability of infants relinquished for adoption. Due to large supply shocks, the composition of child adoption in the U.S. has changed greatly from domestic infant adoption to the adoption of foreign infants and foster-care children since the 1970s. It is much harder to explain the adoption trends in Japan, however, which exhibit a persistent and continuous decline over the last five decades. Taking advantage of the major legal reform that took place in 1988, I test a demand-side theory of child adoption and examine what motivated parents to adopt children in Japan. Finally, I discuss a role of child adoption in improving children’s welfare.

Chiaki Moriguchi is a professor at the Institute of Economic Research of Hitotsubashi University in Tokyo. She received a BA from Kyoto University, an MA from Osaka University, and a PhD from Stanford University, all in economics. She was an assistant professor at Harvard Business School and Northwestern University and a faculty research fellow at the National Bureau of Economic Research, prior to joining Hitotsubashi University in 2009. Her main research fields are comparative economic history, comparative institutional analysis, and the economics of family. She has worked on the comparative historical analysis of employment systems, income inequality, and family formation in Japan and the U.S. Her research has appeared in Review of Economics and Statistics, Journal of Economic History, and Industrial and Labor Relations Review. She is a recipient of the 2011 Japan Society for the Promotion of Science (JSPS) Prize.  

Cloud Computing is rapidly transforming not only computing, but the very fundamentals of how we process, store, and use information—and information is the very basis of civilization.  Cloud Computing is historically unique by simultaneously being an innovation ecosystem, production platform, and global marketplace. While the technology and business models are almost inherently global in scale, national politics and regulations will powerfully influence how Cloud Computing unfolds across the world. Critical issues such as information privacy (who gets to see and use information), security (how to protect information from unauthorized access), and communications network policy (the political economy of broadband and wireless networks) will be settled at the national or regional level. There are powerful tensions as US-based multinational firms are rapidly taking over the global Cloud Computing industry. What are the appropriate frameworks to understand how the competitive dynamics are unfolding? What are the options for national-level players? How should we understand the policy issues as they unfold? What is the role of Japan and Asia as this transformation unfolds?

Kenji Kushida is the Takahashi Research Associate in Japanese Studies at the Walter H. Shorenstein Asia-Pacific Research Center. He holds a PhD in political science from the University of California, Berkeley, and was a graduate research associate at the Berkeley Roundtable on the International Economy. Kushida has an MA in East Asian studies and BAs in economics and East Asian studies, all from Stanford University.

Motoshige Itoh, Professor, Graduate School of Economics, University of Tokyo. He has served as President of the National Institute for Research Advancement since February 2006, and held the post of Dean at the Gradual School of Economics from 2007 to 2009. He was professor of the Graduate School of Economics and the Faculty of Economics since 1993, and Assistant Professor in Economics since 1982. He has served in various government committees, including the Ministry of International Trade and Industry, Ministry of Finance, Economic Planning Agency, Fair Trade Commission, and others and was a member of Economic Strategy Council in 1998-1999. He has been an advisor to the Statistical Division at the Bank of Japan, and a visiting scholar at various institutions, including the Department of Economics at Harvard University, the Australia-Japan Research Centre, Australian National University, and Research Institute at the Bank of Japan. He has published numerous books and papers on Japan’s economy and finance. He received his BA from Tokyo University and PhD from University of Rochester, both in Economics.

Hideaki Miyajima, Director, Waseda Institute for Advanced Study(WIAS), Professor of Japanese Economy, Graduate School of Commerce, Waseda University. He teaches Japanese Economy, and Corporate Governance in Japan.  He stayed at Reischauer Institute of Japanese Studies, Harvard University as a visiting scholar for 1992-94 and 2004-05. He was asked to consult by several institutions such as the World Bank, Hawaii University, Hebrew University, and Korean Development Institute. He was also appointed to numerous positions: Faculty Fellow, Research Institute of Economy, Trade & Industry, a Special Research Fellow of Policy Research Institute (Ministry of Finance), Research Fellow of EHESS (Paris), and an Adjunct Professor of Chung-Ang University (Seoul). He wrote several books and numerous papers including: Corporate Governance in Japan, Oxford University Press, 2007 (co-edited), Changes and Continuity in Japan, Curzon Press, 2002 (co-edited), Policies for Competitiveness, Oxford University Press, 1999 (co-edited), He received his Ph.D in Economics from the University of Tokyo.

Takeo Hoshi, Henri and Tomoye Takahashi Senior Fellow at the Walter H. Shorenstein Asia-Pacific Research Center at Stanford University, and professor of finance (by courtesy), Stanford Graduate School of Business. Prior to joining S/APARC, he was Pacific Economic Cooperation Professor in International Economic Relations at the Graduate School of International Relations and Pacific Studies (IR/PS) at the University of California, San Diego (UCSD). Hoshi also serves on the Board of Directors at Union BanCal Corporation. He is also a research associate at the National Bureau of Economic Research (NBER) and at the Tokyo Center for Economic Research (TCER). His main research interests include the study of the financial aspects of the Japanese economy, especially corporate finance, banking, and monetary policy. He received numerous awards for his publications including Corporate Financing and Governance in Japan: The Road to the Future (MIT Press, 2001), co-authored with Anil Kashyap (Graduate School of Business, University of Chicago), and his other publications include, “Japanese Government Debt and Sustainability of Fiscal Policy” (with Takero Doi and Tatsuyoshi Okimoto), Journal of the Japanese and International Economies,2011; “Corporate Restructuring in Japan during the Lost Decade” (with Satoshi Koibuchi and Ulrike Schaede), Japan’s Bubble, Deflation, and Long-term Stagnation, MIT Press, 2011 (Koichi Hamada, Anil K Kashyap, and David E. Weinstein, eds.) He has been the editor-in-chief of the Journal of the Japanese and International Economies since 1999. Hoshi received his BA in social sciences from the University of Tokyo in 1983, and a PhD in economics from the Massachusetts Institute of Technology in 1988.