Top economic and diplomatic offi­cials from the U.S. and the Pacific Rim gathered at the University of Southern California Monday to kick off the 20th annual Asia/Pacific Business Outlook conference.

The two-day event offers seminars and workshops that seek to educate and train leaders on the dynamics of the growing global marketplace. Ac­claimed speakers discussed a diverse range of topics that circle Asia and the Pacific Rim.

One such workshop on the Japanese economy was lead by John Peters of the U.S. Department of Commerce and Debbie Howard from the Tokyo-based Japan Market Resource Network. On hand were businessmen and women representing various economic sec­tors; including trade, commerce, mar­ket researchers, and business students, all seeking the wisdom needed to make their fortunes in Japan.

According to Howard, certain cultural shifts have made fiscal-focused interest in Japan more lucrative than ever.

“Consumers in Japan are less fo­cused on countries of origin as in the past,” said Howard.

Further sweetening the pot, Peters added: “Japan is the largest export market in Asia for the United States. We sell much more there than in China.”

Some other shifts within Japanese society that have also changed the country’s economic landscape were also discussed. The population has been shrinking since 1982 and in 2005, the young population (0-14) in Japan had dipped to 13.6 percent of the total population, the lowest ever in its history. The suicide rate is also catastrophic for a “first-world” coun­try: 32,000 in 2005 alone.

But not every cultural shift is so somber, especially for those with more Western sensibilities. American enter­tainment imports like Gwen Stefani and Michael Jackson remain on the cusp of Japanese hip culture. McDon­alds, Starbucks, Hilton Hotels, are all redefining Japanese entrepreneurship. Even Harley-Davidson has a pig’s share after recently taking over the country’s motorcycle market, beating out Japanese motor powers Honda, Yamaha, and Su­zuki. Interestingly, a significant portion of Hogs are being bought by women. In fact, women have a more involved role in Japan’s economy.

“Women are more interested in having careers than ever before,” said Howard. “They are forcing the men to change.”

However, in a discussion of signifi­cant social trends, both Howard and Peters consider every aforementioned movement to be secondary compared to Japan’s severe aging gap, which can possibly affect every economic sector. Currently, 21 percent of citi­zens are aged over 65; by 2020, that figure will be over 30 percent. The 2005 Census showed that the dependent population (the younger population added to the elderly population divided by the working popula­tion) was at 53 percent, which effectively means that the elderly are more numerous in proportion to the total population than Japan’s youth.

Following all of the changes to its social fabric, Japan has found itself at a cultural crossroads. With a steadily declining population and an increasing elderly population, Japan’s workforce could be debilitated in the years to come. This deficiency will be especially compounded by the decrease of jobs for able-bodied humans.

“All manufacturing these days is robotic, so Japan must increase productivity in the service sector if it wants to make up ground,” said Peters.

Many questions regarding the affect of these potentially precarious social shifts were raised during the work­shop. Though economists like Peters will never be confused with being a sociologist, most of his answers were offered in a demographic context. Over the course of his presentation, Peters made it clear how closely con­nected an economy is to its social structure.

There’s a lot in store for the world’s second largest economy in the next de­cade, something which should interest economists and sociologists alike.

“I think there’s something about the culture that intrigues me,” said USC busi­ness major Melissa Soo Hoo, who was in attendance at the conference. “I think there’s a way for me to go over there and take advantage of that opening and that growing potential in the market.”