China, Japan Face Growth Pangs
Growth pangs appear to dog China and Japan, two of the world’s largest economies after the U.S. The two countries account for around 20% of global output. The Chinese province of Sichuan has raised minimum wages by 23% to attract workers. Most other provinces in China have increased wages by 13%. Japan, on the other [...]
Growth pangs appear to dog China and Japan, two of the world’s largest economies after the U.S. The two countries account for around 20% of global output. The Chinese province of Sichuan has raised minimum wages by 23% to attract workers. Most other provinces in China have increased wages by 13%.
Japan, on the other hand, has revised its growth forecast downward. The economy will contract by 0.1% this year and until next March. Japan had predicted growth of 0.5% earlier.
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