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The outdated fiscal system in Japan, which deters career building among women, significantly hinders women's economic participation and wage growth. This is despite women's labour force participation standing at an impressive 73 per cent. With the prospect of a severe labour shortage in the decades to come due to a decrease in the fertility rate, there is a dire need for rapid reform as current policies are no longer safeguarding low-income individuals and instead, inhibit women's productivity and wage growth.
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Based out of the Crawford School of Public Policy within the College of Asia and the Pacific at the Australian National University, the Forum is a joint initiative of two academic research networks: the East Asian Bureau of Economic Research (EABER) and the South Asian Bureau of Economic Research (SABER). East Asia Forum is edited by Shiro Armstrong and Peter Drysdale.
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Singaporean Prime Minister Lee Hsien Loong announced that his deputy, Lawrence Wong, would be the next leader of the country. Wong is widely seen as a competent technocrat with a common touch, and his appointment is expected to bring continuity to the government. However, Wong may lack the vision needed to address the numerous challenges facing Singapore. Amid political scandals and an increasingly vocal opposition, Wong will need to balance continuity with bold leadership to ensure Singapore's continued success.