IMF calls for policies to support wage increases in Japan
It wants Tokyo to use moral suasion, tax breaks and penalties to prod firms into granting bigger pay gains
Washington
IN a sign of how worried it is about Japan's economy, the International Monetary Fund (IMF) is urging the country to resurrect a radical strategy once employed by former US presidents Nixon, Ford and Carter - only in reverse.
It's called an incomes policy - and it involves the kind of direct government intervention in the setting of wages that many economists now abhor.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Banking giants race to Riyadh as MBS steps up pressure campaign
Biden now calls ally Japan ‘xenophobic’ along with China, Russia
Japanese companies struggle with yen’s continued weakness
Australia’s March goods trade surplus narrows to more than 3-year low
Hong Kong holds rate as Fed signals inflation concerns
Australian business strength is shocking even its biggest lender