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Japan has recently become competitive in terms of prices with South Korea and Taiwan.

This means it has never escaped the middle-income trap and still relies on low costs (compared to the quality of its goods) to compete.

Japan has sought what seems to be a strange solution to its economic situation. Wages have stagnated for thirty years, allowing Korea, Taiwan, Hong Kong, Singapore, and regions in China like Shenzhen to catch up.

It remains to be seen whether the current generations of Japanese workers trained in office jobs will return to factories. It is an interesting case worth following; as it largely represents a glimpse into the future of other countries.

When Japan began to realize the labor shortage, it cleverly shifted the production of labor-intensive goods, such as cars, to the home of its largest customers (America). In this way, American labor can manufacture cars, American consumers can buy them, and profits are sent back to Japan.

The Japanese have very smart managers, and I believe they will manage at least the elderly in a compassionate and effective manner (unlike an East Asian country where the elderly are starving).

I have been wondering whether the American trade war with China will help the Japanese economy grow. Thousands of factories have closed or are closing in mainland China and moving to Southeast Asia (primarily Vietnam), Taiwan, and India.

Japan is a very high-end manufacturer; they make the machines that make machines, and things like molding machines used by plastic manufacturers and others.

With the decline of Chinese competition, Japan may also bolster its civilian manufacturing sector. It is a great opportunity, but it will have to do its utmost to avoid being outpaced by Vietnam and India, given their significantly lower wages.

Taiwan is also bringing back some industries that it previously sent to China. Perhaps all this new economic activity in the Asia region will translate into a shift in the global economic map.

And it may not mean anything, but it is important to follow it to know our position in the updates on the map.