Business leader Yotaro Kobayashi, who will cochair the World Economic Forum of global business leaders, politicians and academics beginning Friday in New York, said all eyes at the five-day gathering could come to rest on the Japanese economy.
"I expect the majority of participants to agree on the view that the U.S. economy will recover quite a bit in the middle of this year, although it may not be as rapid as a V-type recovery," Kobayashi, chairman of the Japan Association of Corporate Executives (Keizai Doyukai), said in a recent interview.
"Companies are moving ahead with the sorting of inventories, and the failure of Enron Corp. and Kmart Corp. will not have an impact on the economy as a whole," Kobayashi said. "Plus growth is expected in Asia, and Europe is doing well. As a result, there is a possibility that the focus may turn to the question, 'What is Japan doing?' " said Kobayashi, who is also chairman of Fuji Xerox Co.