A PERIOD OF TREMENDOUS CHANGE


Let me begin by observing that we most assuredly live in a period of tremendous change. The world is leaving the Cold War behind and heading for a new order. The end of Cold War alignments is yielding change that encompasses much more than just international politics. It is affecting economic relations between nations. Indeed, it is reshaping the global economy. Formerly socialist nations are moving to market economies. Regional economic integration is gaining momentum through initiatives like the European Union and the North American Free Trade Agreement. Change also is apparent in the relationship between the United States and Japan. Our challenge there is to forge a new kind of political and economic partnership.

Inside Japan, a political framework that dated from nineteen fifty-five has come to an end. A big political realignment is under way and a new political order will begin to take shape. Change also is under way in the economy. Internationalization and the collapse of the bubble economy are forcing a reappraisal of our economic system.

Change is under way, too, in lifestyles. People's values are becoming more diverse. Priorities are shifting from simply raising efficiency to improving the real quality of life. All of this change that I am describing is pressure for change in the very fabric of our political, economic, and social being. It is the mandate of our day.

At Keidanren, we need to devote ourselves to creating an economically vigorous society for the twenty-first century. To do that, I am calling for progressive planning and for sure-footed implementation of policy. I characterize that stance in terms of three principles: change, creativity, and credibility. In other words, change is the essence of implementing the bold concepts that the times require. Creativity is essential if change is to result in a higher quality of life in the twenty-first century. And the creative change that we undertake will earn credibility for Japan in the world.


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