Japan’s Coming “Wage Surprise”
The year 2013 saw the Japanese economy turn the corner on two decades of stagnation. And the future will become even brighter, owing to an emerging consensus that long-term recovery cannot be achieved without a concerted effort to increase workers' wages and bonuses.
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TOKYO – The year 2013 saw the Japanese economy turn the corner on two decades of stagnation. And the future will become even brighter with the appearance of what we are calling the “wage surprise.”