Thread by @Noahpinion, 1/Today's @bopinion post is about Japan's next Prime Minster, Yoshihide Suga, and [...]

1/Today& #39;s @bopinion post is about Japan& #39;s next Prime Minster, Yoshihide Suga, and what he needs to do in order to revitalize Japan& #39;s economy. https://www.bloomberg.com/opinion/articles/2020-09-15/how-yoshihide-suga-can-finish-what-shinzo-abe-started?sref=R8NfLgwS">https://www.bloomberg.com/opinion/a...

How Yoshihide Suga Can Finish What Shinzo Abe Started

Japan's new premier must focus on corporate efficiency, gender equality, and raising low-end incomes.

https://www.bloomberg.com/opinion/articles/2020-09-15/how-yoshihide-suga-can-finish-what-shinzo-abe-started?sref=R8NfLgwS

2/Suga& #39;s predecessor, Abe, managed to put Japanese people back to work. COVID will interrupt that success, but only for a short while.

3/The problem is productivity.

Japan saw good productivity growth under Abe -- better than the U.S.! But it still lags BADLY behind other rich nations.

Suga needs to change this. https://www.japantimes.co.jp/news/2019/12/19/business/japan-labor-productivity-still-lowest-in-g7/">https://www.japantimes.co.jp/news/2019...

Japan's labor productivity still lowest among G7 members in 2018

Japan's labor productivity remained the lowest among the Group of Seven countries in 2018, public interest foundation the Japan Productivity Center said We

https://www.japantimes.co.jp/news/2019/12/19/business/japan-labor-productivity-still-lowest-in-g7/

4/Japan has an unproductive, inefficient corporate culture. It& #39;s holding back everything else in the economy.

This is what Suga needs to change.

5/The first way to change this corporate culture is to encourage more REMOTE WORK.

6/Fortunately, COVID has already pushed Japanese companies to implement remote-work policies.

Now Suga just needs to deploy the correct incentives to make sure the new approach is permanent. https://www.bloomberg.com/opinion/articles/2020-06-21/japan-s-work-culture-gets-a-needed-shock-from-coronavirus?sref=R8NfLgwS">https://www.bloomberg.com/opinion/a...

Japan’s Work Culture Gets a Needed Covid-19 Shock

Remote work may have finally persuaded the nation’s corporate leaders that endless hours at the office are a waste.

https://www.bloomberg.com/opinion/articles/2020-06-21/japan-s-work-culture-gets-a-needed-shock-from-coronavirus?sref=R8NfLgwS

7/The second important change is MID-CAREER HIRING.

Employees must flow between companies!!

8/And the most important corporate reform is to PROMOTE MORE WOMEN!

Abe set a target for promotion of women, but failed to meet it.

Suga must succeed where Abe failed! https://mainichi.jp/english/articles/20200626/p2a/00m/0fp/014000c">https://mainichi.jp/english/a...

Japan gov't to push back 30% target for women in leadership positions by up to 10 years

TOKYO -- The Japanese government is set to delay its goal of increasing the proportion of women in leadership positions by up to a decade, as its orig

https://mainichi.jp/english/articles/20200626/p2a/00m/0fp/014000c

9/Economic analyses show that gender equality is a powerful engine of economic growth.

Women& #39;s talents must be fully utilized!! https://review.chicagobooth.edu/economics/2020/article/how-discrimination-harms-economy-and-business">https://review.chicagobooth.edu/economics...

How discrimination harms the economy and business

Discriminating against a specific group can have large and persistent economic costs.

https://review.chicagobooth.edu/economics/2020/article/how-discrimination-harms-economy-and-business

10/As things stand, Japanese women tend to get pushed into low-paying, dead-end "irregular" jobs. https://www.bloomberg.com/opinion/articles/2015-08-18/job-is-half-done-for-japan-s-working-women?sref=R8NfLgwS">https://www.bloomberg.com/opinion/a...

A Job Half-Done for Japan's Working Women

They can get hired, but too often it's a dead end.

https://www.bloomberg.com/opinion/articles/2015-08-18/job-is-half-done-for-japan-s-working-women?sref=R8NfLgwS

11/The Japanese government can deploy many tools to fix this.

First, it can use preferential government contracting to award companies that promote more women. https://www.bloomberg.com/opinion/articles/2015-11-17/japan-needs-workers-and-women-are-ready-to-step-in?sref=R8NfLgwS">https://www.bloomberg.com/opinion/a...

This gender revolution is different.

Japan Needs Workers. Women Are Ready.

https://www.bloomberg.com/opinion/articles/2015-11-17/japan-needs-workers-and-women-are-ready-to-step-in?sref=R8NfLgwS

12/Next, Japan can repeal a very bad tax law that discourages women from making over a certain amount of money!! https://taxfoundation.org/how-tax-code-can-harm-women-japanese-case-study/">https://taxfoundation.org/how-tax-c...

How the Tax Code can Harm Women: A Japanese Case Study | Tax Foundation

Tax systems initially built to protect women and low-income spouses can actually incentivize women to exit the workforce, or devalue their labor. This can be seen in Japan, where a spousal deduction...

https://taxfoundation.org/how-tax-code-can-harm-women-japanese-case-study/

13/Remote work and mid-career hiring will also help women get promoted.

Remote work will help women balance career and family. Mid-career hiring will enable women to go from the "irregular" to the "regular" job track.

14/And a general corporate culture of efficiency and productivity will be good for woman managers!! https://www.bloomberg.com/opinion/articles/2017-08-15/for-the-sake-of-productivity-put-a-woman-in-charge">https://www.bloomberg.com/opinion/a...

For the Sake of Productivity, Put a Woman in Charge

One Japanese company sees female managers as the key to fixing the country's deadening corporate culture.

https://www.bloomberg.com/opinion/articles/2017-08-15/for-the-sake-of-productivity-put-a-woman-in-charge

15/In addition to all these reforms, Suga should substantially increase the minimum wage, to prevent inequality from rising, and to make sure every Japanese worker can put food on the table.

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