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Greek Conservatives take charge in landslide win, vow more investment, fewer taxes

But will his decisions hold and why is it even more important, as the G20 communique states, “to realise a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open”?

Without this, the world will not only be geographically divided, but it will be digitally divided too — and leaders at the G20 meetings did agree that a digitally-led economy based on the free flow of data could pave the way to better, more inclusive growth.

Angelica Donati, a real estate entrepreneur who represented the construction industry at the G20 Young Entrepreneurs’ Alliance (G20YEA) in May, sums up Society 5.0 nicely: “It is an ambitious plan for transformation which seeks to contrast the problems arising from the country’s ageing population, which are not unique to Japan, but indeed resound across most ‘old world’ economies, by creating a new social contract and economic model which incorporates the technological innovations of the fourth industrial revolution.” She says it addresses the key pillars of infrastructure, finance tech, healthcare and logistics, and relies on AI and big data-driven deep tech to fuel it.

“Japan wants to create a ‘super-smart’ society, underpinned by the so-called SDGs (Sustainable Development Goals), the 2030 sustainability targets promoted by the United Nations.” So not only does it offer the real possibility of stronger economic growth, but it also does so responsibly, inclusively and sustainably.

It ends with: “Nobody should leave school not knowing how to write a business plan.” If the world’s largest countries do manage to thrash out a workable and sustainable roadmap, it would make possible a more equal and thriving global eco-system.

It signals that G20 countries are willing to engage on how to move from widely divergent sovereign and regulatory approaches to data moving across borders to global regulatory collaboration that seeks to assure the safeguarding of personal data and intellectual property.

The alternative is a fractured, digitally divided world, in which data is protected behind sovereign regulatory walls and the pace of innovation in different countries varies markedly — a far cry from the promise of a technologically sophisticated Society 5.0.

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