Japan Ruling Party Makes Election Pledge of 50% Pay Rise by 2040
Japan's ruling party said it aims to ensure workers secure a cumulative 50% pay increase by 2040 with the economy expanding to a value of ¥1 quadrillion ($6.9 trillion) as it unveiled its platform ahead of a national election next month.
The Liberal Democratic Party will try to ensure real wages and nominal wages rise annually by 1% and 3%, respectively, so that annual pay will increase by ¥1 million by fiscal 2030, according to its campaign manifest released on Thursday.
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(Bloomberg) -- China was quick to condemn Israel after its assault against Iran. Yet President Xi Jinping has shown no sign of rushing to provide weapons and other support that would help Tehran face its most critical military test in decades. Security Concerns Hit Some of the World's 'Most Livable Cities' JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown How E-Scooters Conquered (Most of) Europe One Architect's Quest to Save Mumbai's Heritage From Disappearing Beijing has repeatedly issued warnings against escalation, calling again on Thursday for the US and other nations to embrace dialogue and 'prevent the regional situation from sliding into the abyss.' Despite that, China has yet to offer any material support to Iran beyond continuing its normal trading relationship, an approach it also took with Russia. 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Political commentator Li Guangman argued Iran's failure would be a 'geopolitical disaster' for China. The fall of the Iranian regime would undermine Xi's Belt and Road Initiative, compromise the security of the China-Pakistan Economic Corridor, and allow the US to regain control of regional oil, prolonging its 'petrodollar hegemony,' he said. Ultimately, Beijing prizes stability in its foreign relations and rarely supports violent regime change abroad, according to Neil Thomas, a fellow for Chinese politics at the Asia Society Policy Institute's Center for China Analysis. 'China's strategy in the Middle East is to stay on good terms with everyone to maximize its economic gains and geopolitical influence,' he added. --With assistance from Jing Li, Josh Xiao and Sarah Chen. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? 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