In Portugal, shoe manufacturers have defied IMF and EU cost-cutting recommendations by raising employee wages and investing in new technology. It's a strategy that is helping the industry recover. But... more 
In Portugal, shoe manufacturers have defied IMF and EU cost-cutting recommendations by raising employee wages and investing in new technology. It's a strategy that is helping the industry recover. But can it be a model for the rest of Southern Europe? WSJ's Patricia Kowsmann reports. Photo: Mario Proenca/Bloomberg less 
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