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Japan logs largest current account surplus in decade in FY 2017

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So, why is it necessary to keep flooding public funds into the market? Oh right, this money heads into the pockets of business, and they are loath to pass it along to their employees, because they know that the government will continue to pump public funds into the economy.

-2 ( +5 / -7 )

So no chance of using the record surplus to pay off the record debt?

-6 ( +2 / -8 )

So no chance of using the record surplus to pay off the record debt?

Short answer, No. Reason; this money is coming into the coffers of business and the government only collects a fraction of it in taxes.

10 ( +11 / -1 )

So, why is it necessary to keep flooding public funds into the market? 

Especially since full employment was achieved long ago. The answer is corporate welfare. So many of the items on the japanese business page are about the government handing money to powerful, highly profitable firms, who then say in other articles about how they can't "afford" to give decent raises to their workers because the outlook is "uncertain." -- and then later the same firms report record-high profits in the following quarter!

And then the government stratches its head over how it's going ease the extreme labor shortage. Craziness all around.

-3 ( +5 / -8 )

Short answer, No. Reason; this money is coming into the coffers of business and the government only collects a fraction of it in taxes.

Yet, they will still raise taxes (GST) for the everyone, incuding the working-poor, soon... Is it next year?

-1 ( +7 / -8 )

Excellent economic news again. Even though the population is shrinking, the economy is heating up, meaning better productivity and wages for the skilled workers of the economy.

4 ( +9 / -5 )

So when does the golden shower trickle down?

-2 ( +4 / -6 )

If we live in this world of surplus of trillions yens and Trump will put pressure to balance FTA with Japan and automatically those figures will change soon. Surplus is like: count your chickens before they hatch, if it's counted every Japan's fiscal year. Japan has a vast water territory to be researched that can be fuel and all kind of energy. And when it should be done? I think it's now. Surplus will never be a balance to better economy in Japan. Japan must produce itself the chicken to hatch or it will be countless loss of time and money.

8 ( +8 / -0 )

Even though the population is shrinking, the economy is heating up, meaning better productivity and wages for the skilled workers of the economy.

Why should only skilled workers receive better wages?

-1 ( +6 / -7 )

Why should only skilled workers receive better wages?

Because they contribute an outsized value to the economy and so are rewarded as such. Unskilled work can be done by anyone or just automated completely, so why would we reward them? Business isn't a charity for the lazy and unskilled

4 ( +8 / -4 )

Unskilled work can be done by anyone or just automated completely, so why would we reward them?

Depends on the particular vocation you would be referring to. It's quite a simplistic statement you make. More productivity often equals more work and responsibility for both skilled and unskilled workers alike. If you are making your company more profitable, you deserve a payrise in line with everyone else in the company. Been like that since the dawn of capitalism, but somewhere along the line it stopped happening in modern Japan.

0 ( +4 / -4 )

Because they contribute an outsized value to the economy ....

The food industry and its supply chain is filled with unskilled laborers. Without these low-paid people, we would all starve. I'd call that quite a "contribution."

7 ( +8 / -1 )

Unskilled work can be done by anyone or just automated completely, so why would we reward them?

umm human decency? - or perhaps as a reward for their toil?

Or, maybe this can’t happen because desperate people are easier to exploit?

The phrase “the rich are rich because the poor are poor” has a disturbing amount of truth to it.

0 ( +4 / -4 )

The phrase “the rich are rich because the poor are poor” has a disturbing amount of truth to it.

Apparently not all those who were born into opportunity and privilege can understand that some people are poor due to circumstance. It doesn't mean that unskilled workers are lazy, and the majority are certainly not asking for any charity.

3 ( +6 / -3 )

More productivity often equals more work and responsibility for both skilled and unskilled workers alike. If you are making your company more profitable, you deserve a payrise in line with everyone else in the company. Been like that since the dawn of capitalism, but somewhere along the line it stopped happening in modern Japan.

Worldwide it's a trend that employees in developed nations don't profit from the booming economy.

Someone above makes a remark about 'better wages for the skilled' and others like you react on that. What's the real situation? The objective should be that all employees are skilled and that certain work can be automated. Start with defining 'unskilled' work.

3 ( +3 / -0 )

Start with defining 'unskilled' work.

He (or she) means 'unskilled workers' as people who don't have a tertiary education.

0 ( +1 / -1 )

dcog said - "...Unskilled work can be done by anyone or just automated completely, so why would we reward them? ..."

Nice one!!!  I guess you believe the myriad of workers that oil the cogs of society - from garbage collectors to shop staff to truck drivers to train attendants to bakers to road workers to etc etc etc, add little value to your world, so should be compensated accordingly with poverty level wages.

The fact is there is a severely dispproportionate divide in salaries, which certainly is not based entirely on their "worth" to society.

What Japan needs is a modern 21stC labour movement that doesn't kow-tow to companies and govt, but challenges the status quo to recieve the benefits due to the workers - incl liveable wages, work conditions, hours, holidays etc.

A few strikes or slow work acts might shake the "skilled" out of their self-righteous sloth.

2 ( +2 / -0 )

@ AgentX

He (or she) means 'unskilled workers' as people who don't have a tertiary education.

So when you've no tertiary education you're unskilled? That means that you can define most employees in the developed world as 'unskilled'? :)

In my industry there's no place for 'unskilled' workers. Third party contractors from technicians till cleaners need certification and are obliged to follow the safety programs together with the own employees worldwide.

Agree with you that all workers should benefit when a firm makes profits.

1 ( +1 / -0 )

Because they contribute an outsized value to the economy and so are rewarded as such. Unskilled work can be done by anyone or just automated completely, so why would we reward them? Business isn't a charity for the lazy and unskilled

Then pray tell why do government workers who do absolutely nothing to add to the value of the economy get paid more?

0 ( +0 / -0 )

YubaruToday 07:10 pm JST

Because they contribute an outsized value to the economy and so are rewarded as such. Unskilled work can be done by anyone or just automated completely, so why would we reward them? Business isn't a charity for the lazy and unskilled

Then pray tell why do government workers who do absolutely nothing to add to the value of the economy get paid more?

Because they can.

1 ( +1 / -0 )

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