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MM says Japan should study how Singapore turned to foreign workers to boost its economy.
Dawn Tay
Fri, Dec 11, 2009 my paper
JAPAN, facing economic and social problems partly due to its ageing population, could take a leaf out of Singapore's book, Minister Mentor Lee Kuan Yew said yesterday.
It could study how Singapore turned to foreign workers to boost its economy, he said.
He was asked how Japan could break its cultural and economic barriers in integrating foreigners at a dialogue to mark the 40th anniversary of the Japanese Chamber of Commerce & Industry Singapore.
He said: "Japan faces a difficult choice here. If it continues its policy, it will have an ageing population which does not consume much - old people do not change cars or televisions every year. One of the reasons why the Japanese economy is not bouncing back, despite stimulus packages, is because the consumer market is down."
Japan has to consider letting the younger generation take up political and business leadership earlier, and to embrace women as part of its workforce.
Dawn Tay
Fri, Dec 11, 2009 my paper
JAPAN, facing economic and social problems partly due to its ageing population, could take a leaf out of Singapore's book, Minister Mentor Lee Kuan Yew said yesterday.
It could study how Singapore turned to foreign workers to boost its economy, he said.
He was asked how Japan could break its cultural and economic barriers in integrating foreigners at a dialogue to mark the 40th anniversary of the Japanese Chamber of Commerce & Industry Singapore.
He said: "Japan faces a difficult choice here. If it continues its policy, it will have an ageing population which does not consume much - old people do not change cars or televisions every year. One of the reasons why the Japanese economy is not bouncing back, despite stimulus packages, is because the consumer market is down."
Japan has to consider letting the younger generation take up political and business leadership earlier, and to embrace women as part of its workforce.