The zeitgeist of our time: Japan

Here, I try to capture the vibe across the developed world.

Japan has tightened its immigration policies, most notably by raising the capital requirement needed for the business manager visa, and instituting above-average income requirements for obtaining permanent residence.

This is probably in response to anti-foreigner sentiments that have been fanned by high inflation, stagnating salaries, and possibly a lack of opportunities. Interestingly, Japan does not have a high unemployment rate.

If you look closely, what Japan is trying to do is to select for high-earning immigrants. Generally, the thinking is that high-earning = high impact individuals who are a net positive for the economy. Of course, it's always good to have such individuals bring in jobs, and every country is trying to attract them.

The structural problem it faces is that what it needs for its manufacturing is low-cost labour from overseas. And this seems to be the same across the world. Jobs that are actually available are labour positions, considered to be dead-end by much of the workforce. Conditions are mediocre, and pay is not projected to rise.

Locals reasonably don't want these jobs. Yet, governments don't want to give benefits to foreigners who take them up. You end up like Dubai with a class of workers who can never be permanent residents. If you actually succeed in attracting some of the high-end crowd like Singapore does, you end up with another problem. All the foreigners that come in are by rule richer than the locals, and the locals end up serving foreigners. That leads to even more anti-foreigner sentiment.

At the same time, because there is no longer the hope of settling down, you can only attract workers with higher pay.

Has any problem been solved? Probably not.