Plant closings [and increased] labor productivity won't address the root cause of profitless prosperity. The root cause is increasing excess supply, which is causing price deflation.

We believe a contract with steep labor concessions is the sign of a troubled core industry, not 'good news' for investors.

It's hard to get wage gains when you've got a persistently excess labor supply.

Productivity growth is the only possible way to achieve prosperity, to create a solid, sustainable foundation for wage increases and to ensure the country's development, for ourselves and for future generations.

The trend is still for healthy productivity growth between 2% and 2.5%, and unit labor costs are expected to only slowly rise over the coming year.

Even though it?s a flawed system, the fact we have labor peace has created this incredible era of prosperity for everybody involved. If we pull the genie out of that bottle (by abolishing the cap), I don?t know that it ever comes back.