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Shiozaki Says Japan Industrial Competitiveness Key to Wage Gains

Restoring Japan’s industrial competitiveness is the key to fueling wage gains that the Abe government and the central bank are counting on to ensure inflation takes hold, according to Labor Minister Yasuhisa Shiozaki.

“We have to think about why wages haven’t risen,” Shiozaki said in an interview in Tokyo on Wednesday. “It’s because we’ve lost industrial competitiveness. When you lose it, your profitability falls and you can’t boost wages.”