Two years after its last deep downturn and period of financial instability, Japan’s economy appears to be heading toward a crisis. As the second-largest economy in the world and the largest global creditor, a crisis in Japan would be certain to have major repercussions in the United States and elsewhere. What can be done to avoid a crisis and promote the full recovery of the Japanese economy?

AEI is pleased to host an address on this topic by Taichi Sakaiya, special adviser to the prime minister of Japan. As minister of state for economic planning from July 1998 until December 2000, Mr. Sakaiya was in charge of economic policies in the Obuchi cabinet and first Mori cabinet. Mr. Sakaiya is also a former senior official of the Ministry of International Trade and Industry and is one of Japan’s best-known economic commentators and the author of numerous best-selling books.

Mr. Sakaiya’s address will be followed by brief commentary from AEI scholars David Asher and John H. Makin.