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There’s bad news for Japan as it seeks the talent it needs to compete in the global economy with an aging, shrinking population.

Japan ranks last among 11 Asian nations for its appeal to highly skilled foreign employees, behind countries including Indonesia, Thailand and Malaysia, according to the 2017 IMD World Talent Ranking released Monday. Worldwide, Japan ranked 51st among 63 nations. Singapore ranked first in Asia, with Hong Kong second.

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