TOKYO -- Five years have passed since Nikkei Inc. and the Financial Times became partners. Together, we have strived to create a truly global media group focused on the world economy and everything that affects it.
Given the turmoil humanity is facing, there is more need than ever for high-quality global news and analysis. The novel coronavirus pandemic has put our commitment to that goal -- and our ability to carry it out -- to the test.
As infections spread rapidly from China to Europe and the U.S., FT reporting provided must-read insights on the medical and economic response to the outbreak. It provided in-depth coverage of how companies reeled in the face of an unprecedentedly abrupt economic slowdown, and the mounting concerns about job insecurity.
At the same time, Nikkei reported -- via its English-language publication, Nikkei Asia -- on the swift reaction to the pandemic by Asian countries and governments. Nikkei chronicled how Asian countries deployed digital contact tracing systems and promoted mask-wearing, attracting strong attention from our readers in Europe and the U.S.
Of course, COVID-19 is not the only crisis we face. The world indeed stands at a crossroads. Some voices cry out that capitalism has reached its limits, while many worry that the very foundations of democracy have been shaken. People are angry at an overconcentration of wealth. As the global economic expansion slows, these disparities will inevitably widen.
But why has growth slowed? Underlying the phenomenon is the transition from a manufacturing economy centered on the production of goods to a digital one that creates wealth based on knowledge and data. Further, the end of population growth that long propelled economies is spreading from Japan to places such as China and Europe, weighing on consumption and output.
In sum, we at Nikkei and the FT are committed to gathering and collecting the global information and wisdom necessary to provide solutions for escaping from this predicament. Our challenge continues.