The growth of Japanese Gross National Income(GNI)dependence on the Japanese car industrial output in ASEAN markets: Japanese car industry’s competitive edge in ASEAN.

Type de publication:

Conference Paper

Auteurs:

Uno, Akira

Source:

Gerpisa colloquium, Paris (2014)

Résumé:

On July 2013 the Japanese government decided the “macroeconomic vision and roadmap for the new decade of revival”.
This new policy uses for the first time the index of nominal GNI in addition to the index of nominal GDP. Japan's industrial efforts are now focused mainly on Asia through the "local production for local consumption" policy, indicating a shift in Japan's economic policy captured by the income growth in these foreign markets.
As a specific target it "aims for the nominal GNI to grow by more than 2% in the long term, so as to increase to 1.5 million yen or more in 2022 per capita of the nominal GNI for the next 10 years".
The Japanese car industry has undergone tremendous development and thus became a key driver of the nominal GDP growth, even in the aftermath of the collapse of the bubble economy, the Japanese automobile industry played a key role in restoring the economy. However, car demand and production is slowing down, this is partially due to the problem of aging population in Japan, and thus the resolution of this problem lies in increased overseas production and consumption in the emerging markets. This is the reason the automotive industry transfers its production overseas.
In order to expand its production base Japan aims to establish its presence in the ASEAN countries through the 10 years development strategy, the government with the help of the Japan Bank for International Cooperation and ODA is paving the road for future infrastructure investments. The development of the automotive industry is a driving force of the economic growth in the ASEAN countries as well as an opportunity for expanding overseas income for many Japanese companies.
The developing automotive industry in the ASEAN countries is also an attractive market for the automotive industry of Europe, the United States, China and South Korea. Car ownership in ASEAN countries is small but the potential for growth is high as is the growth of per capita GDP and population; car sales will surely increase rapidly in the ASEAN economic community in near future. Japan has made large share of the automotive industry aiming to create a production base and used car sales early on in ASEAN.
The ASEAN market traditionally, politically and historically is pro-Japanese as a "market of local production for local consumption", thus Japan holds a competitive advantage over Europe, United States, China and South Korea. For its aim to expand income overseas, the Japanese government expects the Japanese automobile industry to maintain high share in the ASEAN increase in GDP as a growth strategy for economic recovery in the next 10 years.
Showcasing the current situation by this survey of the Japanese automotive industry in ASEAN, I would like to review a future policy shift in ASEAN in order to contribute to the growth of Japan’s GNI.

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