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How Japan can truly reinvent itself as a global financial hub

A key step would be to settle its energy needs in yen, not dollars

| Japan
A LNG tanker behind a port in Yokohama: Japan should contribute to meeting global demand and supply for capital through trading oil and gas in yen.   © Reuters

Tomoo Kikuchi is a professor at the department of economics, Korea University and an adjunct senior fellow at the S. Rajaratnam School of International Studies, Nanyang Technological University, Singapore. Yohei Tanaka is a lead economist and a deputy manager at the Americas project division, INPEX, a Japan-based oil and gas exploration and production company.

Japan's Prime Minister Yoshihide Suga recently announced a plan to reinvent Tokyo as a global financial hub by lowering tax rates and providing various administrative support in English to attract top foreign talent.

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