Now, I'd like to discuss the topic of automobiles. Currently, on a global scale, the sales of electric vehicles (EVs) are increasing, and there is a perspective that we are entering an era dominated by EVs. However, there are various issues associated with EVs, and there remain doubts about whether a full-scale shift to EVs is the right choice. From the consumer's perspective, purchasing an EV may lead to lower resale values for their existing gasoline-powered vehicles when it's time to replace them. The reason behind this is that EV batteries degrade with use, which affects their value. Moreover, when buying a used EV with degraded batteries, one may experience performance issues, such as increased charging frequency. This situation is analogous to smartphones, where prolonged use can result in diminished battery performance. If battery replacement is necessary, it can be quite expensive. In such cases, it might be more cost-effective to purchase a new vehicle, rather than a used one with deteriorated battery performance. Therefore, for the widespread adoption of EVs, the overall price of EVs needs to decrease significantly. However, the price of automobiles can vary by tens of thousands, and those who finance their purchases may not be significantly deterred by the price difference. In countries like Japan, where a well-established gasoline infrastructure exists, EVs may still appear less convenient due to the underdeveloped charging infrastructure. Additionally, a fundamental issue arises concerning the shift to EVs. It's not just about transitioning from gasoline-powered cars to EVs; it's also about how the electricity used to power these EVs is generated. The CO2 reduction aspect of EVs, in particular, is a subject of debate. While there are discussions surrounding the necessity of CO2 reduction, let's assume, for the sake of argument, that reducing CO2 emissions is essential. The shift from gasoline vehicles to EVs alone doesn't necessarily solve the problem. It requires considering how the electricity used for charging these EVs is generated. For instance, a country like France, which relies heavily on nuclear power, might see a reduction in overall CO2 emissions when transitioning to EVs. However, in Germany, where nuclear power is not as prevalent, the discussion would shift towards the source of electricity used for charging, potentially increasing CO2 emissions. China is another example of this dynamic. While China actively promotes EVs to combat environmental issues, it still relies heavily on fossil fuel-based power generation. Thus, the discussion extends beyond the vehicles themselves to the broader issue of how electricity is generated. To address these issues, countries must focus on increasing their own earning power. National policies should foster the development of products that other countries want to buy, ultimately enriching the nation. This approach applies not only to the automobile industry but also to various aspects of a country's economic health. Japan, for instance, has significant potential in the field of medicine, including pharmaceuticals and medical equipment development. In the healthcare sector, there's a need to anticipate and support future innovations, as Japan's strength in this area could contribute to the nation's wealth. Without such a strategy, Japan may continue to run a trade deficit in the healthcare sector, leading to the outflow of wealth to foreign countries. The point is that Japan needs to enhance its earning power and wealth generation capabilities. While there is a concern about the increase in the trade deficit, particularly in the healthcare sector, there doesn't seem to be sufficient awareness of this issue. To summarize, the world is currently witnessing a competition related to EVs, and how this plays out depends on each country's unique circumstances. For instance, European countries are concerned about Chinese EVs flooding their markets, which has led to investigations into potential unfair practices. However, investigating such practices can be challenging, especially in countries where financial transparency and auditing systems are not as robust as in some other nations. Therefore, the competition with China needs to focus on technological advantages and intellectual property rights rather than direct price competition. The fact that Europe is struggling with Chinese-made EVs suggests that the technology to build EVs is not particularly sophisticated. If European consumers readily accept Chinese-made EVs, it could signal a breakdown in the European auto industry. Here comes the harsh reality: Japan is providing subsidies for Chinese EVs. So, how is Japan faring in this situation? Ultimately, everything comes down to Japan's ability to generate wealth as a nation. Whether it's defense, support for families, or any other issue, Japan needs to increase its wealth generation capability. It needs to nurture products that the world wants to buy. Without becoming a wealthier nation, Japan's ability to address various issues will be limited. Many people may have dreams for the future, such as children learning to play the piano, going on family trips, or enjoying delicious meals. However, these dreams can only become a reality if household incomes increase. Without increased income, such aspirations remain out of reach. In summary, for a country to become richer, it must first make itself wealthier. Japan needs to create products and services that the world desires, and this serves as the foundation for addressing various challenges. Without a doubt, Japan's healthcare sector holds significant potential, and if the nation invests in this area wisely, it can reverse the trend of a growing trade deficit and keep wealth within its borders. The situation with EVs highlights the importance of not just transitioning to a new technology but also fostering a strong domestic economy to support such changes. Japan's approach should be to focus on increasing its own earning power and wealth generation capabilities rather than providing subsidies for foreign-made EVs. This requires a national-level strategy and action to address the current situation.