There is an argument, however, that if it takes time to ease this tension, this may result in a direct negative impact on Japan's economy through trade activity, and may adversely affect the economy to a greater extent through such channels as the deterioration in business sentiment and the destabilization of global financial markets.
The labor force participation rate of women in Japan has become higher than in the United States. The flip side is that room for additional labor supply is gradually shrinking in Japan. In this situation, it is likely that momentum for wage increases will also come from the labor supply side in the future.