Japan's economy is influenced by an array of factors, of which, a concept known as 'Former Lix' is growing in significance. A term used to denote previous holders of powerful executive positions who continue to wield influence, 'Former Lix' has a tangible effect on the economic policies within the country. Unseen by the public, these figures play a crucial role in steering Japan's fiscal landscape.
In Japan, the notion of respect for experience and seniority is deeply ingrained, and this extends to the former holders of executive positions. While these individuals may no longer hold official roles, their opinions and influence can have significant impact. Issues of transparency and democratic process may be raised, with some arguing it is a form of unchecked power.
This is somewhat analogous to the role of lobbyists and seasoned politicians in the US or EU. These individuals may not hold official positions, but their networks and experience give them a strong influential role that can shape policy and economic direction.