G20 Country Japan: Economic Giant Navigating Complex Global Challenges

Japan, nestled in the Pacific Ocean, has an expertise in technology and innovation, which has positioned it as a leader in shaping the digital economy.

G20 Country Japan Prime Minister Fumio Kishida

Prime Minister: Fumio Kishida

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Born in 1957, Japanese PM Kishida served as the country’s Foreign Minister under his predecessor Shinzo Abe from 2012 to 2017, before taking the highest office in 2021.

A member of the G20 since its inception in 1999, Japan plays a pivotal role in the premier international forum for economic cooperation. Known for its rich cultural heritage, technological innovations, and economic prowess, Japan has emerged as a leader in shaping global economic policies and fostering international collaboration.  

The world's third-largest economy, Japan is characterised by its highly developed infrastructure, a dynamic services industry and a robust manufacturing sector. The island nation nestled in the Pacific Ocean has an expertise in technology and innovation, which has positioned it as a leader in shaping the digital economy. As a G20 nation, Japan plays a pivotal role in discussions on trade, economic growth, and financial stability. 

Japan assumed the presidency of the bloc of nations accounting for 85 per cent of the global GDP, two-thirds of the world population and 75 per cent of the global trade, in 2019.

The Japanese foreign ministry had then said “amidst worldwide uneasiness and dissatisfaction stemming from changes accompanying globalisation”, the world in general and the fellow member-states in particular turned to the ‘land of the rising sun’ for leadership.

“Japan took leadership as the Presidency, ensuring that the G20 expressed (a) strong message to the world via G20 Osaka Leaders’ Declaration, which includes various areas such as leading global economic growth through promoting free trade and innovation and addressing inequalities, as well as contributing to resolving environmental and global challenges,” read the official release issued by Japan.

Since the year it was founded, in the backdrop of the crippling economic crisis that gripped East Asia and Southeast Asia in 1997, Japan has been steadfast in carrying forward the mandate of the G20 — address major issues impacting the global economy, including fiscal stability and climate change — and chart a way forward.

The Osaka Summit, hosted on June 28 and 29, 2019, drew the G20 members, including the European Union (EU), and 8 invited countries — Egypt, Chile, the Netherlands, Senegal, Singapore, Spain, Thailand and Vietnam.

The event, which also saw representation by 9 international organisations, was not only the inaugural G20 Summit in Japan but also its biggest-ever congregation of world leaders and delegates on a single forum.

Listing out the priorities of Japan’s Presidency of the G20 and the Osaka Summit, the Ministry of Foreign Affairs stated that it focussed on “strengthening the international order for free and fair trade, establishing the Osaka Track for global data governance with a focus on Data Free Flow with Trust and leveraging disruptive innovations to tackle global environmental challenges”.

Cut to this year, Prime Minister Fumio Kishida will lead the team of Japanese leaders and delegates at the G20 Summit, which is to be hosted under India’s Presidency in the national capital, New Delhi, on September 9 and 10. Themed on ‘Vasudhaiva Kutumbakam’ or ‘One Earth, One Family, One Future’, the event this year will see the member-states and invited countries debating the pressing global challenges of the times and finding solutions.