UnNews:Japan's plan to deliver on economy relies on coping with China
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16 December 2012
Japan's ex-premier, Shinzo Abe, is getting another chance to run the country of Japan following his conservative Liberal Democratic Party topping up into political power in the election on Sunday. But first, he is charged with the task to bolster the flimsy and weak economy by remaining on China's good side. If Abe ends up failing, no one knows what could go wrong. Maybe another bombing? Not even remotely funny!
It was three years ago when Abe's political party was dominated, but now he will get another shot at it. Abe was expected to meet the leader of another political party to strengthen their alliance and make political movements flow now in its fourth recession since the beginning of the new century.
The victory by his powerful LDP party was great. For almost 50 years it was dominant until 2009. It will try to usher in a stronger government oath/pledge for an attempt to maintain a territorial row with the Chinese. (Who are secretly ready to outburst and get revenge for those attacks back when the samurais were hip and dominant in Japan) The policy is a pro-nuclear energy policy even though the incident back in 2011 with Fukushima and potentially risky death recipe for hyper-easy monetary policy, that damn tsunami, and a big fiscal on spending to boost growth.
Projections show how so impossibly dominant the spunky LDP were in the election. They took an estimated 291 seats from the 480-member lower house and left pity within the small party who only received a laughable estimated 29 seats. This gives them to two-thirds majority that they so desperately needed to overrule parliament's "might upper house" where they lack the majority and can neglect bills like no one's business. This could end a deadlock that has been going on since 2007. What a joke!
Markets have already taken action by lowering yen and rising the share prices in the assumption that the LDP will win with Abe's sweet leadership and economic stimulus. The two thirds "super majority" could also feed this yen-slaying share-rising tactic by a great amount.
Prime Minister Yoshihiko Noda's Democratic Party of Japan (DPJ) was crushed, forecast to win just about a mere 56 seats. Also laughable compared to the LDP. Many people from other countries felt sorry for the DPJ, but it doesn't matter because they don't have any say it it!
Overall, Shinzo Abe will have to prove he has the capacity, in which he epically failed his first try, in order to become both politically and socially accepted by parliament on December 26th. It is notable that Shinzo was infamously charged with scandal and incompetence his first try.
Voter dislikings for both major parties has ignited the will of some other not so noteworthy people to try to form their own parties, including the We Bring Honor Party, the Throwback Samurai Party, the Gangnam Style Party, and the Wii Party. The Wii Party is also a famous political party throughout the younger citizens of Japan.
Abe has been talking like a badass in a row with China over uninhabited isles in the East China Sea, which probably could result in another Chinese-Japanese conflict that we do not want to get involved in. Some experts analyze he may temper his hard line with pragmatism once or twice in office, or many times if you want to bet some money it.
The LDP, which promoted atomic energy during its spectacularly long reign of political power, is expected to be either friendly or threatening to nuclear utilities and life as we know it. Despite the LDP promising that they won't show off their nuclear missiles, the public is considering doing something because of concerns for life as we know it.
Many economists say that Abe's economics could force temporary growth and allow the government to go ahead with a plotted initial sales tax skyrocket in 2014, 2015, 2016, and 2017 to help lower the public debt and hopefully set an example to the United States.
But it looks unlikely that Abe will cure Japan's economy problems and make it sustainable for growth to Japan's ageing society and civilization. Also, it is being observed what will happen if a market backlash in triggered and whether or not investors declare Japan has lost its finances and reliability for good trade. Prejudice, much?
- Linda Sieg "Japan's next PM Abe must deliver on economy, cope with China". Reuters, December 16, 2012