Japan's government acknowledges willingness to let underperforming SMEs fail for economic revitalization.
Japan's government, facing a future of sluggish growth and population decline, now openly acknowledges its willingness to let more underperforming small and medium-sized firms fail. These companies, accounting for seven out of 10 jobs, have relied on state help and almost-free funding. The government's stance reflects an urgent need to revitalize the economy, as pandemic-era support dwindles and interest rates rise for the first time in 17 years.
July 16, 2024
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