• Kyodo

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In a symbolic gesture, the government and leaders of business lobbies and labor unions Friday agreed to work together on raising salaries — a critical development that must take place for Prime Minister Shinzo Abe’s deflation-busting “Abenomics” policy to succeed.

“We will lead an expansion in business earnings to wage increases,” they said in an agreement signed at a joint meeting. Abe welcomed the “shared awareness” and urged the groups to “boldly put it into action.”

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