Archives of “Shinzō Abe” tag

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Japan press – “Abenomics here to stay”

  
Analysis, Politics
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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.

Coronavirus – Japan’s PM Abe on Saturday promises unprecedented economic stimulus

  
  Analysis
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Abe said measures will include fiscal and monetary stimulus alongside tax breaks for companies

  • details have not been finalized
  • package will be rolled out in an extra budget in 10 days
  • size of the package will be greater than that compiled in response to the global financial crisis (total 57 trillion yen) said Abe
Abe spoke during a nationally televised news conference
  • “I want to be straightforward”
  • “We are in a critical stage. We need to be ready for a long-term battle”
  • “The pandemic is inflicting extremely big damage to Japan’s economy”
  • “We’ll deploy a huge, powerful package that will include a full range of fiscal, monetary and tax measures.”
Abe said measures will include fiscal and monetary stimulus alongside tax breaks for companies

With election over, US wants Abe to deliver on Iran and trade

  
Analysis, Politics
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Having scored a sound victory in the upper house election Sunday, Japanese Prime Minister Shinzo Abe is back to confronting thorny diplomatic issues as Washington presses for tangible results on global security and trade.

U.S. President Donald Trump had signaled that he would wait until the Japanese election is over to push for a trade deal. Now Washington is certain to step up pressure to put together an agreement palatable to U.S. farmers ahead of the 2020 presidential election. Japan is increasingly alarmed by the U.S. bringing Trump style deal-making to diplomacy and trade.

John Bolton, the U.S. national security adviser, was in the Japanese capital Monday, seeking Tokyo’s support amid rising tensions with Iran. Bolton told Japanese Defense Minister Takeshi Iwaya that their two countries “are at an extremely critical juncture to strengthen the bilateral alliance.” He likely called on Tokyo to participate in a coalition that would safeguard ships passing through the Strait of Hormuz.

Iran’s Revolutionary Guard seized a British oil tanker in the strait on Friday. A Japanese-owned oil tanker also suffered an attack in the area in June.

Discussions about the future of the Japan-U.S. alliance will continue over the next several days and weeks, Bolton told reporters after his meeting with Iwaya, adding that he was very “optimistic” about the outcome.

Abe told reporters on Monday that he first wanted to focus on what Japan could do to ease tensions in the Middle East. “The peace and stability of the Middle East are critically important for Japan’s energy security,” Abe said. (more…)

Abe’s LDP and partner win majority in Japan upper house election

  
Analysis, Politics
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Japan’s governing Liberal Democratic Party and junior partner Komeito won a majority of the seats up for grabs in Sunday’s upper house election but the coalition and a conservative ally fell short of the two-thirds majority needed to move ahead with revising the constitution.

The victory gave a tailwind to Prime Minister Shinzo Abe’s plan to raise the consumption tax and allowing him to focus on trade talks with the U.S. as well as a widening dispute with South Korea.

As of 1:21 a.m. Monday, the ruling coalition had secured 69 seats of the 124 that were contested, according to a Nikkei estimate. That is enough to give the coalition a majority in the upper house. It holds 70 seats that were not up for grabs for a total of 139.

(more…)

Heads up – Trump – Abe meeting underway

  
Analysis, Politics
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A bilateral meeting between US president trump and Japan’s PM Abe Shinzo

  • At the G20
  • In Osaka
Its begun – expect some comments to follow.
Yesterday we heard there are no discussions taking place on the Japan-US defense agreement. Trump has had problems with the yen though, I wonder if that’ll come up?
A bilateral meeting between US president trump and Japan's PM Abe Shinzo
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