In our era of unending overheated news cycles I take comfort in the cold dispassionate analytic Japanese cultural characteristic. Its helpful not only for keeping a level head but also making interesting connections between seemingly unrelated things.
For example different cultural responses to the COVID crisis: in Japan people went out and bought pets, in America people went out and bought guns. Japanese like making those kinds of comparisons that seem to come out of left field, but for me provide ‘think outside the box’ context sorely missing in public discourse these days. And again when Bloomberg ran a piece titled “Buddhist Monks Are Snapping Up ESG Bonds in Japan,” that wasn’t getting any traction in the Japanese news space.
As a Buddhist priest (monks live monastic lives outside of society, priests do not) it stuck me as odd that a Rinzai Zen temple would advertise investing in ESG bonds as future proofing the temple instead of working to get younger people involved in temple activities. The Bloomberg piece also reads like stealth marketing, if Zen temples and the Vatican are investing in ESG bonds it must be good…right?
I asked a Japanese trader friend about it and he set me straight without blinking an eye, “With this coming out on Bloomberg just when the Dali Lama and Greta Thunberg are hooking up online to discuss environmental issues, it sounds like investment funds and players are gearing up to make a lot of mischief. The only difference is that they used to be better at hiding this kind of nonsense and now they suck.” Bingo…helpful context to divine where things are going. There is also online discussion of a COVID-19 ‘vaccination mafia’, but that’s another subject for another day.