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The death of downtown is now a familiar refrain. Central business districts (CBDs) in cities around the worldonce bustling centers of office workwere hit hard by the pandemic and the shift to remote work, leading many to predict they would never fully recover. But instead of demise, downtowns are being reinvented. And Tokyo is leading the way. Traditional downtown business districts in cities around the world were defined and dominated by vertical towers where legions of white-collar professionals and support staff were stacked in isolated office buildings. The worlds largest metropolitan area is pioneering a new model where the city itself increasingly takes on functions that were once the province of the office, providing amenities and specialized services that enable companies to better attract and retain talent. Instead of a single monolithic CBD, Tokyos downtown has been reshaped into a mosaic of distinct downtown districts with their own that together make up its vibrant urban core. Each of them has its own distinct economic identity and unique mix of amenities which allow them to appeal to different kinds of talent. Evolving gradually over the past two decades, this approach is both an organic outgrowth of private sector shifts on development and office location, as well as innovative policies that relax zoning, incentivize mixed-use development, and prioritize public transport access. It also helps that people in Tokyo live in smaller homes and enjoy quick, reliable commutes on clean, efficient trains and subwaysconditions that naturally support the return to office work. Taken together, these factors have enabled Tokyos downtown to experience one of the worlds strongest rebounds, with high rates of office return, higher commercial rents, and lower vacancy rates than nearly any other global city. [Image: courtesy of the authors] We call this new model an urban knowledge campus. Indeed, Tokyos downtown districts resemble university campuses more than traditional downtown office clusters. After all, a great university campus is more than just a collection of lecture halls, dormitories, and dining facilities. It forms a complete ecosystem for learning, social interaction, and spontaneous exchange, encompassing labs and studios, sports and athletic centers, theaters, cultural venues, and green spaces. Our detailed research, released by the BCG Henderson Institute, examined five of Tokyos most prominent downtown districtsMarunouchi and Nihonbashi, Shibuya, Roppongi, Shinagawa, and Shinjukuand identified the key characteristics that underpin their collective success as an urban knowledge campus. Density Done Right Tokyos downtown districts are among the densest, most intensively used urban spaces on the planet. With daytime populations exceeding 70,000 people per square kilometer in some areas, they are twice as dense as Manhattan but remain clean, orderly, and deeply livable. Its this level of functional density that distinguishes Tokyo from more suburban innovation hubs like Silicon Valley or Bostons Route 128. A True Urban Mix Tokyo is distinguished by more than physical density. Its messy, mixed-use urbanity fosters what we call interaction densitythe constant, unplanned collisions that spark new ideas and connections. Office spaces intermingle with housing, vibrant retail, green spaces, restaurants, bars, clubs, cultural venuesand, importantly, schools and childcare facilities which help keep families with children in and around the urban core. In fact, office space accounts for less than 40% of land use in four of Tokyos five major downtown districtsfar lower than in Londons Canary Wharf, where it exceeds 80%; Pariss La Défense, where it makes up roughly 70%; or Lower Manhattan, where it comprises some 60%. [Image: courtesy of the authors] Tokyos downtowns districts are 24/7 neighborhoods bustling with life long after business hoursa striking contrast to the CBDs of many global cities that are dominated by monolithic office towers and empty out after dark. A Mosaic of Distinctive Districts Tokyos urban knowledge campus isnt a single entity but rather a mosaic of specialized urban environments that appeal to distinct industries. The unique amenities, services, and character, these districts appeal to different kinds of talent these industries require. This specialization is reflected in the chart below which arrays the citys five main downtown districts based on two key factors: how specialized each is around particular industries, and how much of each district is dedicated to office space versus other uses. [Image: courtesy of the authors] Marunouchi-Nihonbashi is comprised of two adjacent districts in central Tokyo that serve as the hub for the citys financial and professional services industries. These districts attract finance professionals, strategic consultants, senior executives, and corporate leaders. They have the highest level of industry specialization, and offices make up the largest share of their total footprint. Anchored by major banks, global headquarters, and consultncies, these districts exude stability and formality, with prestige modern skyscrapers rising beside historic facades, and streets lined with luxury retail, fine dining, and shaded plazas. Marunouchi-Nihonbashi [Photo: kiki/Unsplash] Roppongi has evolved into a cosmopolitan center for technology and international business. It has a moderate level of industry specialization compared to Marunouchi-Nihonbashi and a greater variety of non-office uses. Drawing on its historic role as a hub for expatriates, it has become Tokyos main center for global corporations and international talent. Once known primarily for nightlife and dining, it now offers a more balanced set of amenities, including more sophisticated arts and culture venues, abundant green spaces, and schools and educational facilities for families. Roppongi [Photo: Sergio Delle Vedove/iStock Editorial/Getty Images Plus] Shibuya is the citys creative and digital epicenter, home to media firms, startups, and tech ventures. Its specialization and mix of uses are similar to Roppongi. The district is a magnet for the creative class: designers, coders, digital media workers, and creative professionals who thrive on collaboration, improvisation, and inspiration. Its colorful, neon-lit streetscape pulses with energy, featuring avant-garde architecture, ramen shops, clubs, pop-up boutiques, and live-music venues. Loud, fast, and experimental, Shibuyas edgy vibe was a key factor in Googles decision to place its Japanese headquarters here. Shibuya [Photo: Yuya Uzu/Unsplash] Shinjuku stands out as more balanced in terms of its industry mix and use of space. It attracts a diverse workforcebureaucrats, executives, business travelers, and creativesto its mix of government offices, high-rise hotels, entertainment venues, shops, and transit terminals. With amenities ranging from policy think tanks to karaoke bars, its the most Tokyo of the citys districts: dense, vertical, chaotic, and dynamic. Shinjuku [Photo: Dovile Ramoskaite/Unsplash] Lessons for Corporate Location Strategy Companies in the U.S. and around the world have much to learn from what Tokyo has done. Choosing a location isnt merely about real estate or cost; its about strategically positioning organizations in areas that can help attract, energize, and retain essential talent. The office today is more than a building or a place to work; its a platform for culture, community, and innovation. The urban knowledge campus is what this looks like when scaled to the level of the city. At a time when talented people have more choice than ever, companies must move beyond the idea that workers should simply report to an office. They must place themselves in locations that excite and inspire. The knowledge campus functions more as a magnet than a mandate. Companies must elevate location as a core element of their overall corporate strategy. Where a company chooses to locate shapes its culture, its innovation capacity, and its prospects for growth. Forward-thinking firms increasingly understand that talent attraction depends on far more than amenities inside the office. It depends on the quality of the broader environmenttransit access, housing, schools, safety, vibrancy, and a sense of place. But this goes beyond simply selecting great locations. To truly succeed in this new era, companies must engage proactively in shaping the environments they inhabit, partnering with developers, local governments, and other institutions to co-create the kinds of neighborhoods that support their workforce and long-term success. In Tokyo, private developers have played a critical role in evolving the downtown districts into more livable, vibrant spaces. And such development has been facilitated by government policies that allow greater land-use flexibility; encourage mixed-use development; provide transit connectivity; and fill the urban core with schools, child-care facilities, and other essential services that keep families with children in the urban center alongside young people and empty-nesters. Suh long-term public investments in urban ecosystems enable companies to thrive. Tokyos experience shows whats possible when companies, developers, and government are aligned around making great places for companies and for people. In todays knowledge economy, place matters more than ever. Choosing a location isnt just about selecting an addressits the cornerstone of sustained competitive advantage. This research was conducted under the auspices of the BCG Henderson Institute.
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E-Commerce
China’s leader Xi Jinping said no one wins in a trade war as he kicked off a diplomatic tour of Southeast Asia on Monday, reiterating China’s commitment to global trade in contrast with U.S. President Donald Trump’s latest tariffs moves.Although Trump has paused some tariffs, he has kept in place 145% duties on China, the world’s second-largest economy.“There are no winners in a trade war, or a tariff war,” Xi wrote in an editorial jointly published in Vietnamese and Chinese official media. “Our two countries should resolutely safeguard the multilateral trading system, stable global industrial and supply chains, and open and cooperative international environment.”Xi’s visit lets China show Southeast Asia it is a “responsible superpower in the way that contrasts with the way the U.S. under President Donald Trump presents to the whole world,” said Nguyen Khac Giang, a visiting fellow at Singapore’s ISEASYusof Ishak Institute.Xi was greeted on the tarmac by Vietnam’s President Luong Cuong at the start of his two-day visit, a mark of honor not often given to visitors, said Nguyen Thanh Trung, a professor of Vietnamese studies at Fulbright University Vietnam. Students of a drum art group performed as women waved the red and yellow Chinese and Communist Party flags.While Xi’s trip likely was planned earlier, it has become significant because of the tariff fight between China and the U.S. The visit offers a path for Beijing to shore up its alliances and find solutions for the high trade barrier that the U.S. has imposed on Chinese exports.In Vietnam, Xi will meet with Vietnam’s Communist Party General Secretary To Lam, his counterpart, as well as the Prime Minister Pham Minh Chinh.“The trip to Vietnam, Malaysia, and Cambodia is all about how China can really insulate itself against the from Trump,” said Nguyen Khac Giang, pointing out that since Xi became the president in 2013, he has only visited Vietnam twice.The timing of the visit sends a “strong political message that Southeast Asia is important to China,” said Huong Le-Thu of the International Crisis Group think tank. She said that given the severity of Trump’s tariffs and despite the 90-day pause, Southeast Asian nations were anxious that the tariffs, if implemented, could complicate their development.Vietnam is experienced at balancing its relations with the U.S and China. It is run under a communist, one-party system like China but has had a strong relationship with the U.S.In 2023, it was the only country that received both U.S. President Joe Biden and China’s Xi Jinping. That year it also upgraded the U.S. to its highest diplomatic level, the same as China and Russia.Vietnam was one of the biggest beneficiaries of countries trying to decouple their supply chains from China, as businesses moved here. China is its biggest trading partner, and China-Vietnam trade surged 14.6% year-on-year in 2024, according to Chinese state media.But the intensification of the trade war has put Vietnam in a “very precarious situation” given the impression in the U.S. that Vietnam is serving as a backdoor for Chinese goods, said Giang, the analyst at Singapore’s ISEASYusof Ishak Institute. Vietnam had been hit with 46% tariffs under Trump’s order before the 90-day pause.China and Vietnam have real long-term differences, including territorial disputes in the South China Sea, where Vietnam has faced off with China’s coast guard but does not often publicize the confrontations.After Vietnam, Xi is expected to go to Malaysia next and then Cambodia.-Huizhong Wu and Aniruddha Ghosal, Associated Press
Category:
E-Commerce
China appears to be pursuing a calculated effort to recruit recently laid-off U.S. scientistsparticularly those with expertise in artificial intelligenceto relocate or contribute remotely to research operations based in Shenzhen. This campaign is reportedly being driven by a network of entities linked to a shadowy Chinese technology conglomerate. In March, advertisements offering full-cycle support for relocation to Shenzhen were placed on LinkedIn, Craigslist, and in several major international publications. (I was alerted to one such newspaper ad through a friend in the city.) The timing coincides with a wave of budget-driven layoffs across U.S. federal agencies, including the Centers for Disease Control and Prevention (CDC) and the National Institutes of Health (NIH), following funding reductions by the Department of Government Efficiency (DOGE). The recruitment effort has drawn scrutiny from U.S. officials and intelligence analysts, who view it as part of a broader Chinese strategy to acquire advanced technological expertise through nontraditional channels. The FBI has previously warned that Chinese talent programs may serve as mechanisms to extract intellectual property and sensitive research from foreign institutions under the guise of academic or professional collaboration. Laid-off federal employees with security clearances or institutional knowledge are considered particularly vulnerable. Analysts suggest that financial strain and professional uncertainty may make these individuals more susceptible to overtures from foreign entities. While international recruitment of scientific talent is not unusual, the circumstances surrounding this initiativeparticularly the use of potentially deceptive firms and the targeting of a freshly displaced U.S. workforceraise significant counterintelligence and national security concerns. In response, U.S. agencies are reviewing protocols for layoffs involving sensitive personnel, including strengthening exit briefings and restrictions on post-employment affiliations. Platforms like LinkedIn have also stepped up efforts to detect and remove fraudulent recruiter profiles, which are often used in foreign influence and espionage operations. Shenzhens emergence as a global innovation hub is a relevant factor. Since being designated a Special Economic Zone in the 1980s, the city has attracted significant investment and become a core node in Chinas technology ecosystem. Many U.S. companies have longstanding relationships in the region, leveraging its capacity for rapid prototyping and cost-effective manufacturing. There is reason to believe that China may frame Shenzhen as a politically neutral environment for scientific work, potentially increasing its appeal to foreign researchers. Sources familiar with current efforts tell me that remote collaboration options are being offered to further lower barriersallowing scientists to contribute to Chinese research initiatives without relocating. However, analysts caution that any scientific contributionremote or otherwiseultimately supports the interests of the Chinese state. Shenzhen operates within the political and regulatory framework of the Peoples Republic of China, and research conducted there is unlikely to remain fully compartmentalized or independent. Additionally, former U.S. government employees with security clearances may face legal and regulatory constraints that bar them from working with Chinese research entities, including academic institutions. This recruitment campaign highlights a broader strategic competition between the U.S. and China over leadership in critical technologies, particularly artificial intelligence. In this context, the targeting of displaced American scientific personnel represents a pragmatic, if provocative, maneuver by Beijing. While it remains uncertain how effective this strategy will be, it reflects a sophisticated understanding of the intersection between economic dislocation and talent acquisitionand reinforces the urgency of policy responses that address both national security and workforce resilience.
Category:
E-Commerce
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