Reflecting on the Banks Family’s coboration, Ito wore a somewhat somber expression.


    As he sat in the car, he let out a sigh and spoke candidly, “Koichi, over the past decade, Japan’s economic growth has been rather sluggish. Consequently, the power of prominent families, including ours, the Ito family, has diminished. Moreover, the next generationcks strength…”


    Hiroshi Tanaka quickly interjected, “Mr. Ito, Japan once spearheaded global development in the decades following the war. Why has it struggled to maintain that pace in thest ten years?”


    With a tone of regret, Ito responded, “The reasons for our economic stagnation are numerous. Firstly, we have very limited local resources andnd. Secondly, Japan has not achieved significant breakthroughs in the realms of the Inte and high-tech industries in recent years…”


    Continuing with a heavy heart, Ito Yuhiko added, “Many Japanesepanies that were once leaders in their fields over a decade ago have gradually lost theirpetitive edge.”<h3 style="background-color:DodgerBlue">


    “Considerpanies like Sony, Panasonic, Hitachi, and Toshiba. They were once global frontrunners. Sony’s color televisions were unmatched and sold everywhere, while Sony Ericsson’s mobile phones gained worldwide acim. Panasonic and Hitachi produced top-tier home appliances, and Toshiba excelled in semiconductors. But what’s the situation now? They are all on a downward trajectory!”


    “Today, most televisions are manufactured in China, known for being affordable and cost-effective. The mobile phone market is dominated by Apple’s substantial share in the U.S., while Chinese brands like Huawei, LG, and OnePlus hold significant portions. Where does that leave Japanese mobile phones? Even South Korea’s Samsung is struggling, resulting in a notable decline!”


    Feeling disheartened, Koichi Tanaka admitted, “Mr. Ito, you are absolutely correct. Japan has indeed lost many of its traditional advantages, especially in electronics…”


    Ito sighed, “It’s not just electronics. Japan’s steel industry was once at the forefront globally. Our specialty steels were highly regarded, even by the Americans. However, due to the long-standing fraud scandal involving Kobe Steel, our standing has plummeted!”


    “Initially, Japan’s Shinkansen technology was unparalleled. We pioneered high-speed rail technology, establishing a unique strength globally. However, it’s surprising that China has now taken the lead in high-speed rail, relegating our Shinkansen technology, along with that of Germany and France, to a second-tier status. As a result, Japan has lost significant overseas market opportunities…”


    Koichi Tanaka sighed again, “We, the Ito family, have varying shares in thepanies you mentioned. They are struggling, and our assets are dwindling. This is indeed a pressing concern…”<fn8f96> Th?s chapter is updated by ?ovelFind</fn8f96>


    Yuhiko Itomented, “Moreover, the most critical issue is that our youth in Japan are seriouslycking in creativity!”


    “Look at China over the past few years. Numerous world-ss Intepanies have emerged, such as Tencent, Alibaba, Toutiao, JD, and Pinduoduo, along with DJI drones capturing over 70% of the global drone market. In contrast, Japan has failed to produce any influential Intepanies in recent years! If we continue down this path, we will lose all ourpetitive advantages!”


    Hiroshi Tanaka nodded in agreement, “Meanwhile, the leading families in China are witnessing their wealth and influence grow with the continuous progress across various sectors. They now possess the ability to challenge both Europe and the United States, hardly considering Japanese firms a threat.”


    “Exactly,” Ito replied, visibly disheartened. “Previously, they were in pursuit of us. Yet, in a blink, they have surpassed us and are now chasing the U.S., leaving us behind. To make any business breakthroughs now, we find ourselves needing to align with Chinese families. This truly echoes the old Chinese saying: ‘Thirty years in Hedong, thirty years in Hexi…’”


    As he said this, Ito Takehiko emphasized, “Our stagnation, coupled with China’s rapid growth, necessitates a firm alliance with China’s top families. Our coboration with the Banks Family is crucial. It holds significant importance and should not be overlooked.”


    Hiroshi Tanaka quickly nodded and responded, “Mr. Ito, rest assured, I will give it my all!”


    Indeed, the Japanese economy has faced considerable sluggishness in recent years.