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  • Japan′s stimulus and monetary-easing initiatives have so far fallen short of reviving the country′s

  • decades-long economic slump. The Japanese government has also recently

  • made raising wages a top priority. But will this new measure meet expectations?

  • Kim Min-ji reports. Japanese Prime Minister Shinzo Abe has made

  • it a top priority to raise wages,... saying that it is the key to success in Abenomics.

  • The aim is to spur domestic consumption,... with the hope of escaping from a low growth

  • trap.

  • "Companies need to raise wages and investment and consider the prices they pay their suppliers."

  • Last year, Japan′s large corporations lifted their wages by nearly 2-point-3 percent on

  • average the largest jump in 17 years. About half of listed firms are also considering

  • raising wages by a similar amount this year. "People around me are spending more. I think

  • the wage hike has had a big impact." The Abe administration has been going all

  • out to sustain the economy′s emergence from two decades of stagnation, mainly by pumping

  • in more money. Although the expected effects haven′t kicked

  • in yet,... analysts are optimistic. "We can see there are efforts to ease labor-related

  • regulations and corporate tax rules,... as well as reform of pension management institutions."

  • With Korea suffering from low consumer prices and looming fears of deflation,... experts

  • have warned that Seoul is at risk of following the steps taken by Japan during its lost decades.

  • Korea Finance Minister Choi Kyung-hwan has vowed to do all he can to prop up the economy,...

  • which includes raising wages to boost domestic spending.

  • Kim Min-ji, Arirang News.

Japan′s stimulus and monetary-easing initiatives have so far fallen short of reviving the country′s

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B1 US top priority raising abe min priority kim

Will Abenomics help Japan escape recession?

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    James posted on 2015/06/18
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