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The World Ahead

Countries vie for corporate renewal

Japan under pressure to save companies from becoming 'zombies'

As of mid-December, Uber was valued at $92.8 billion, ranking 81st among all U.S. companies.   © Reuters

TOKYO -- The global business community is jockeying among itself over corporate renewal, and stock markets are revealing winners and losers. Since crisis is the mother of innovation, whether a country can birth the next GAFA megacompany after COVID-19 may decide its future competitiveness.

The question in Japan, however, is whether the nation can eliminate 'zombie' companies.

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