Japan losing global talent race, Suga economic adviser warns

Takenaka focuses on financial services and calls for basic minimum income

20201209 takenaka

Heizo Takenaka, an economic adviser to Japanese Prime Minister Yoshihide Suga, favors a universal basic income and urges other changes to attract foreign financial talent. (Photo by Manami Yamada)

MITSURU OBE, Nikkei staff writer

TOKYO -- Japan's inability to attract foreign employees despite years of globalization efforts damages the country's financial services sector and other fields crucial to future growth, a close aide to Prime Minister Yoshihide Suga warns in an interview earlier this month.

"The difficulty of procuring global talent is undermining Tokyo's economic competitiveness," Heizo Takenaka, a 69-year-old economics professor who serves on the Suga government's growth strategy council, told Nikkei Asia.

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