During the early days of “Abenomics,” U.S. businesses were optimistic they could convince Japan’s government to make a small change to the nation’s tight immigration rules to let more household helpers into the country.
But a year after Prime Minister Shinzo Abe took office, an idea that some thought might be an easy win for immigration reform while meeting a stated aim of Abe’s growth strategy has made no apparent progress.
If Abe’s government drags its feet on one small step, it suggests scant prospects for any broader measures to let in foreign workers any time soon – which many experts say will be necessary for Japan to sustain its economic growth in the face of a rapidly shrinking workforce.
via CNBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.