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Abe again urges business leaders to raise wages by 3%

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The just won't do it. And the government are literally in the companies debt, since nearly all of the government's 280% debt of GDP is from companies in Japan. The government can't demand a thing out of them, and the companies know this.

Enterprises such as; Toyota, Mitsubishi, Toshiba, Sumitomo, and Kawasaki has the government secured in the palm of their hand. If the government resist, the companies will demand the debt payment!

5 ( +8 / -3 )

Even if business leaders increase wages most of Japan are part timers and work for smaller companies... It won't help anyone!

11 ( +11 / -0 )

It seems that major companies(1%) can afford to raise wages but smaller business companies(99%) can't raise as they have been just barely making business for the time being.

4 ( +5 / -1 )

Abe called for accelerated investment, particularly in the areas of artificial intelligence and the internet of things, to increase global competitiveness.

So get out of politics, into business, and then do it yourself, with your own money or what you can raise.

-1 ( +2 / -3 )

Abe is saying I lowered the interest rate to the extreme and the deflation is halted. Economy is doing fine and the stock price is going up strongly. You made a lot of money. Now it is your turn to cooperate with me.

4 ( +4 / -0 )

Where are Japan's labor unions?!? And why are they such wimps? Any idiot knows you don't go into a negotiation demanding 3%. You demand 7% and take it from there.

And if you donT get want you want, you storm out, and if you still dont get want you want, you strike.

3 ( +6 / -3 )

Abe again urges business leaders to raise wages by 3%

If he can just ram through a lot of unpopular laws, why cant he do the same for something that actually benefits the people of this country? Useless PM.

2 ( +4 / -2 )

Will be great for the working class BUT I doubt the extra money will stimulate the internal economy, since the property crash of the early 90's Japanese have been saving their money.

3 ( +3 / -0 )

since nearly all of the government's 280% debt of GDP is from companies in Japan

You are wrong, big time. It's the Japanese public's money, it's, more like taking money from your left hand and putting it into your right hand, yeah money has changed hands, but it's still your money.

3 ( +3 / -0 )

Where are Japan's labor unions?!?

If you know the answer why ask the question? One MUST understand the system here to understand that labor unions are NOTHING like unions in other countries.

5 ( +5 / -0 )

You demand 7% and take it from there.

And if you donT get want you want, you storm out, and if you still dont get want you want, you strike.

Youre thinking of different countries. In Japan, not having an opinion is extremely encouraged. Just shut up and follow orders.

3 ( +3 / -0 )

why would a compamy increase wages by 3% when inflation struggles at 1%. Im guessing you're lucky if you get 1.5% wage increase if at all.

3 ( +3 / -0 )

Abe should simply change the law that companies with a certain amount of revenue pass on a certain percentage to their workers.

Enforce it the same way as parking tickets or NHK seeks payment.The final penalty to be, the company forcibly shutdown or owner imprisoned as petty cases of theft are handled in Japan,with the convicted imprisoned!

Abe doesn't have to urge, he just has to pass legislation with his party's majority in the gikai....

-3 ( +0 / -3 )

Enforce it the same way as parking tickets or NHK seeks payment.The final penalty to be, the company forcibly shutdown or owner imprisoned as petty cases of theft are handled in Japan,with the convicted imprisoned! then companies will just move production to China and cheaper asian countries to circumvent any domestic laws, taking the jobs and income taxes away from the J economy. Once theyre gone it very difficult to get them back. The only way the J gov can counter that is to put tariffs on Chinese imports, which the Chinese can easily do Japanese imports and even J factories in China which theyve done in the past. Not as easy as forcing companies to pay higher domestic wages as its now a global economy

5 ( +5 / -0 )

Lip service! He will never take any action against corporations to make this law because he needs their votes and support. That's why he gave them all huge tax cuts when he first took office. Nearly 90% of Japanese businesses are small businesses with fewer than 50 employees and they are struggling under this right-wing fascist government who is only lining the coffers of large corporations at the expense of the masses.

4 ( +5 / -1 )

And AGAIN they will show Abe indirectly that you do not give them tax cuts BEFORE they raise wages and then merely hope they will, and again Abe will do nothing to force them to, and continue to make them richer while we pay more.

5 ( +6 / -1 )

Octobers around the curve folks. Best prepare before the hike.

2 ( +2 / -0 )

They already started announcing price-hikes for end/start of the financial year.

Add in the annual summer and autumn price-hikes plus tax-increase and ....

3 ( +3 / -0 )

Abe seems to be doing much urging recently. Laudable goals, but urging generally immediately runs into the brick wall of reality.

2 ( +2 / -0 )

In our restaurant chain, we are also raising wages, but also raising menu prices wherever possible - in order to survive in business. And this too, is a gamble.

What is driving wage hikes in our industry is the lack of employees. Some good restaurants are closing for lack of employees, or cutting days and hours of operation.

2 ( +2 / -0 )

@wtfjapan

isnt it the case that a lot of manufacturing has already located to China?

I agree with your comment on tariffs so just bring the Chinese workers here.

Manufacture more here.

It's already being done to some extent already.

The workers will pay tax, consume and add to the economy here.

0 ( +1 / -1 )

Abe probably watched Robert Reich’s excellent documentary Inequality for All on NHK over the New Year break the other night.

https://en.m.wikipedia.org/wiki/Inequality_for_All

-1 ( +0 / -1 )

So the majority at JT want Abe to go full socialist, rather than use free market forces like competition, innovation and growth to achieve results.

-4 ( +1 / -5 )

@Yubaru

One MUST understand the system here....

What system? The old "system" is dead. Japanese companies have transitioned to shareholder capitalism, in case you missed that, writing the new rules as they go along. If the union leaders don't realize that, it's time for them to retire and be replaced with ones who do.

So the majority at JT want Abe to go full socialist.

Socialism means state ownership of capital. I haven't seen any sentiment in support of that on this thread.

2 ( +3 / -1 )

Certainly there are elements of socialism as well as capitalism within the state system in Japan, I refer to the state education system and the concept of giri or duty.

And there are other examples.

However, to give one example, when wealthy Japanese are faced with the opportunity to avoid say, inheritance tax,they won't!

In some cases many choose to pay it out of a sense of 'duty'

How to explain that?

Is it brainwashing, a socialist education, a misplaced belief in the state to be above the individual?

Maybe all of the above?

Many other countries are attempting to limit government size but Japan still shows no incentive to really modernize nor limit government size.

Well, something has to give sooner than later - the pressures are too great....

0 ( +1 / -1 )

Socialism means state ownership of capital.

A false definition that would fail to regard Venezuela as socialist, but nice try.

I haven't seen any sentiment in support of that on this thread.

The majority sentiment demands that the capital does what the central planners want.

Road to ruin.

-1 ( +0 / -1 )

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