Wilbur Ross has just returned from a trip that included stops in Japan, China and Hong Kong.
Ross believes the mood in Japan has significantly changed because of "Abenomics." The Japanese people believe that the end to deflation has finally arrived.
One key for Japan according to Ross is for Abe to bring Japanese agriculture into the modern era.
Ross thinks that Japanese stocks are still attractively priced and are a good way to play emerging markets. One-third of Japanese corporate earnings are linked to emerging markets.