The opening keynote speech was given by the former governor of the Bank of Japan, Professor Masaaki Shirakawa. Professor Shirakawa discussed many of the societal and economic problems Japan is experiencing, such as its rapidly ageing society. He noted that the term ‘Lost Decade’, used to describe Japan’s low GDP growth rate since the 1990s, masks the reality that Japan’s GDP growth per working-age population is higher than the United States. He underscored the difficulty for Japan to increase birth rates through government spending as Japanese politics favours spending on the elderly — the largest demographic of voters. Shirakawa highlighted that ultimately Japanese society needs to forge a consensus that will lead to a sustainable economy and society, and that every country is faced with a similar challenge.