Japan’s new prime minister will face multiple economic challenges

Original Title: Japan’s New Prime Minister Will Face Multiple Economic Challenges

Japan LDPPresidentThe election was held in Tokyo on the 14th. Current Chief Cabinet Secretary Yoshihide Suga won with an overwhelming advantage and was successfully selected as the 26th chairman of the Democratic Party and will become the new Prime Minister of Japan. The analysis noted that Yoshihide Suga has stated that he will continue with Abe’s economic policies, but in the post-Abe era, the Japanese economy still needs to pay more attention to structural reforms.

Yoshihide Suga was elected with high votes

The choice adopted by the Liberal Democratic PartymeetingThe vote is carried out in the form of a “General Assembly of Members of the Houses and Houses” formed by the vote of the members and representatives of the local branch association. Among them, 394 members of parliament vote, 141 local votes, a total of 535 votes. The election results showed that Yoshihide Suga received 288 votes from the MP and 89 local votes among 534 valid votes on the day. The total number of votes came to 377, which was much higher than former Secretary General Shigeo Shige and 89 who received 68 votes. Fumio Kishida, chairman of the political research committee of the Liberal Democratic Party.

As former chairman of the Liberal Democratic Party and Japanese Prime Minister Shinzo Abe resigned midway, new President Yoshihide Suga will succeed Abe to serve his remaining one-year term as president until September 2021.

On the 16th, Japan will convene an interim parliament for the election of the prime minister by name. As chairman of the Liberal Democratic Party, Japan’s largest ruling party, Yoshihide Suga will naturally become the 99th prime minister of Japan after Shinzo Abe. According to Japanese media reports, on the 16th, Yoshihide Suga could complete the formation of a new cabinet.

Yoshihide Suga, 71, has earned the trust of Japanese Prime Minister Shinzo Abe. As early as 2006, when Abe first formed the cabinet, Yoshihide Suga joined the cabinet as Minister of General Affairs and tried to push for the taxation of his hometown and local governments.Decentralizationreform. He supported Abe in the 2012 Liberal Democratic Party presidential elections and has served as Chief Cabinet Secretary since Abe’s second regime, becoming the longest-serving Chief Cabinet Secretary in Japanese history.

The analysis believes that Yoshihide Suga’s advantage in winning the election lies in his long-term support for Abe and his involvement in all major formulations and policies of the Abe regime.Crisis managementHe is called the “Prime Minister in the Shade” by the outside world. Most importantly, in the special circumstances where Abe has only one year to serve as chairman of the Liberal Democratic Party, the party hopes to relinquish the office of chairman to a full successor to Abe’s policies, in order to protect the Abe’s political legacy to the greatest extent possible and achieve a smooth transition from the regime. Suga Yiwei thus became the most suitable candidate.

At present, there are endless conversations about the possible early dissolution of parliament by the new prime minister. Analysts believe that for Suga Yoshihide, taking advantage of the people’s support for the new regime to dissolve the Diet as soon as possible and implement a general election is the best strategy. However, the epidemic has not subsided yet, can you take this?decisionIt remains to be seen.

Facing multiple economic challenges

Currently, Japan faces serious challenges in controlling the new corona pneumonia epidemic and restoring the national economy. The epidemic situation facing Japan remains dire. Some analysts believe that with the arrival of the autumn and winter flu season, Japan should strengthen the peaceto get betterPreviously criticized response measures to the epidemic, a good response to the epidemic is a prerequisite for economic recovery and the smooth progress of the Olympic Games.

Affected by the new corona pneumonia epidemic and last year’s increaseconsumptionAs a result of taxes, Japan’s economic growth rate in the second quarter declined by 28.1% at an annual rate, marking the largest decline in the Japanese economy since 1955. Before the epidemic, the economy Japanese was already showing signs of fatigue. The main priority of the new government is to launch a policy to respond to the new corona pneumonia epidemic. However, how to boost the national economy when the epidemic has not eased is certainly a great challenge.

The Japanese economy is currently facing a serious situation of internal and external difficulties. The data shows that JapanTo exportIt has been 20 consecutive monthsI andDecline, inbound tourism remains difficult to recover; at the same time, the equipmentinvestmentIn the recession, household consumption has decreased year-on-year for 10 consecutive months.

Japan still faces structural problems such as aging and low birth rate, causingworkThe problem of energy shortages and competitiveness has become increasingly prominent and has become a factor holding back economic growth. The Japanese government has taken some countermeasures, such as encouraging women to go outjobsAnd relaxation of immigration restrictions, but the results have been limited.

After being elected Prime Minister of Japan for the second time in 2012, Abe launched the “Abenomics” represented by the “Three Arrows”, that is, large-scale easingcoinPolicy forbusinessTax reductionAnd increase fiscal policies, such as the consumption tax, and promote structural reforms to solveworkforceinsufficient,SMEsCreditProblems such as scarcity and low competitiveness.

Some people point out that Yoshihide Suga has stated that he will continue Abe’s economic policy, in the hope that the Bank of Japan will continue to maintain ultra-flexible monetary policy and consider continuing to launch an economic stimulus plan. At the same time, the advancement of structural reforms can become key content, such as the reform of immigration policy and the employee system, increased investment in the digital field, and income distribution reforms, among which are many challenges.

Olympic puzzles to solve

The delay of the Tokyo Olympics has caused problems for Japan and the enormousGreat economyHow to bear the loss has become a reality. Currently, whether the Tokyo Olympics can be held as scheduled is also a major challenge facing Japan. This depends on the prevention and control of the epidemic and is related to economic revitalization.

On August 28, Shinzo Abe announced his resignation. Yoshihide Suga became the most popular candidate for the new prime minister. Speaking of the Olympics, he said: “We must defeat the epidemic so that the Olympics can be held as scheduled.” This is after Abe announced his resignation. The Japanese government expressed its position on the Olympics for the first time.

For the Olympic Games, the most important thing in the coming months is to formulate epidemic prevention measures. Olympic epidemic prevention measures led by Japanese government officialsCommitteeThe first meeting was held earlier this month, to complete the task of introducing relevant policies before the end of the year, there is a long way to go.

Agence France-Presse reported that most of Japan’s borders still deny foreign visits.ModeThe amount is also restricted, and outsiders question whether it is feasible to hold the Olympics in such circumstances. Although Japanese officials have stated that the Olympics will not be postponed, polls show that currently only a quarter of Japanese expect the Olympics to be held next year, with the rest of the people expecting the Olympics to be delayed. or cancel again.

(Source: Daily economic information)

(Responsible editor: DF522)