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Japan needs positive loop driven by higher wages

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Consumption could be looking up in Japan.   © Reuters

TOKYO -- The negative impact from Japan's consumption tax hike in April has lingered longer than expected, with real gross domestic product contracting for the second straight quarter in July-September.

     But the economy may now be looking up. With a delay in the second tax hike becoming more certain, there is a pressing need to create a positive cycle where income gains boost consumption and investment.

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