r/japanresidents • u/Willow9080 • 23h ago
I have a feeling there will be a growing class gap
I was thinking about all of the socioeconomic environments changing in Japan. With the increasing interest rates and likely there be increase in income tax in the next 5 years due to the significant amount of government spending, I think the only winners are the tech companies and banks and overseas investors. So I think we will see an a lot richer upper class with no much changes to the lower and middle class.
In addition, I think the policy against immigration will lead to greater job openings for low skilled jobs. I think in the end, instead of foreigners taking those low skilled jobs more of the next generation won’t have the means to get normal salary man job and end up picking up the slack. I expect there will be automation but I think the cost of automation and lack of flexibility/adaptability of it (as well as the lack of human touch) will dissuade it wider adoption as expected.
I feel like the salaries of all workers may rise slightly (slightly less so for low skilled jobs) but that will also result in higher cost of living.
I can’t imagine the class gap staying still. I think with a growing class gap and a growing feeling about the country not protecting and supporting the young generation, we might also a see wave of rebellion. What do you all think?