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Japan press – “Abenomics here to stay”

Justin had the news on Friday of the imminent retirement of Japanese Prime Minister Abe.

  • the end of an era for Japanese politics
Abe will not be taking Abenomics with him though, Japan Times:
  • economists say Japan’s next leader will likely maintain he basic Abenomics framework
  • “For sure, markets will be watching the continuity. I think many are assuming that things won’t change a lot, but the new prime minister will need to clearly explain that,” said Daiju Aoki, chief investment officer at UBS Wealth Management Japan.
Shunsuke Kobayashi, chief economist at Mizuho Securities:
  • “The government will need to continue to deal with the pandemic and do what’s necessary to contain it while limiting the economic damage … whoever becomes the prime minister, he or she will have to face the same issue and take the same necessary steps” 
ps. Much of Abenomics boiled down to massive policy easing from the BOJ. This is not gonna change any time soon.
Abe was PM from 2006 to 2007 and then again since 2012. He will step down on or around September 15.  He is the longest-serving Prime Minister in Japanese history. Get well soon, and enjoy your retirement sir!

Justin had the news on Friday of the imminent retirement of Japanese Prime Minister Abe.

Japan PM Abe: Current situation does not call for state of emergency declaration

Comments by Japanese prime minister, Shinzo Abe

  • Coronavirus cases are rising, government is watching closely
It is clear that the virus situation across the country is not getting any better as the curve is steepening as the days go by. Japan reported a single day record of 980 new virus cases yesterday, with infections also picking up outside of Tokyo.
Japan
Osaka is reported to find 149 new cases today and that would be the daily record for the prefecture, with Tokyo having found another 260 new cases as reported earlier.
As much as the government insists that things are “under control”, you have to wonder where will they draw the line and say that they have made a mess of the situation.
Eventually, the fear of the virus spread in itself will take a toll on the economy – as much as the government wants to keep business activity running for as long as they can afford to. Unfortunately, that comes at the costs of people’s health and well being, and at worst lives.