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Archive for the tag “Yoshihiko Noda”

Japan’s Currency Dance: Weaken the Yen—But Not Too Weak

Weaken the yen: That has been a desperate plea by the captains of Japanese industry for years as the strong currency has hurt such exporters as Sony and Toyota. Reversing the yen’s rise was a major goal of Liberal Democratic Party leader Shinzo Abe during his successful campaign against incumbent Prime Minister Yoshihiko Noda last month.

Sure enough, now that Abe is prime minister, the yen has weakened. A lot. With the government promising a big new spending program and the central bank expanding its quantitative easing policy, Japan’s currency on Jan. 18 hit a two-and-a-half-year low of ¥90.10 to the dollar. Since mid-November, when the election season got underway and an LDP victory became a near certainty, the yen has weakened by 10 percent.

Read Here – Businessweek

Sex Scandals, IPOs, Succession Shaped Asia’s 2012

Few people are happier to see 2012 end than Hu Jintao, Yoshihiko Noda or Lee Myung Bak. It was a rocky year for the leaders of ChinaJapan and South Korea, who leave office with legacies in tatters.

Gripes about President Hu doing little about China’s biggest challenges outnumbered the accolades. Noda’s premiership ended as ingloriously as those of the other five leaders Japan has had in the past six years. Lee’s time as president will be remembered for South Korea’s widening rich-poor divide and North Korea’s march toward nuclear-missile capability. Tensions over tiny islands meant East Asia’s three biggest economies barely spoke to one another.

 

Read Here – Bloomberg

 

Shinzo Abe’s Sumo-Sized Win

A FORMER prime minister, who resigned in 2007 after a shambolic first year in office, and his Liberal Democratic Party (LDP), which two years later was hounded out of the governing role that it had taken as its birthright, are both headed for a remarkable return to power. In the hours after midnight it became clear that an LDP-led coalition was going to secure a two-thirds majority in the lower house of parliament. Shinzo Abe will be back at the head of government.

 

Read Here – The Economist

 

Abe Set for Japan Victory Faces 7-Month Window

Shinzo Abe’s Liberal Democratic Party is on the verge of reclaiming power in Japan, giving him seven months to convince voters he can revive the economy before another round of elections in July.

The LDP is forecast to crush Prime Minister Yoshihiko Noda’s Democratic Party of Japan in the Dec. 16 election for the lower house of parliament. A victory would give Abe a second chance to lead the country five years after he quit his first term for health reasons. No premier has stayed in office for more than 15 months since.

 

Read Here – Businessweek

 

Tensions flare over South China Sea at Asian summit

Japan warned on Monday that a row over the SouthChina Sea could damage “peace and stability” in Asia as China stalled on a plan to ease tensions and disagreements flared between the Philippines and Cambodia over the dispute.

The acrimony provided an uneasy backdrop to U.S. President Barack Obama‘s arrival in Cambodia for a regional summit where he is expected to urge China and Southeast Asian nations to resolve the row, one of Asia’s biggest security issues.

Japanese Prime Minister Yoshihiko Noda challenged efforts by summit host Cambodia, a staunch China ally, to limit discussions on the mineral-rich sea, where China’s territorial claims overlap those of four Southeast Asian countries and of Taiwan.

Read Here – Reuters

Japan Politics Could Fragment Further On Road To Two-Party System

Japan ruling party lawmaker Mieko Nakabayashi isn’t just worried that her Democratic Party will lose power in next month’s election; she fears a comeback by rival conservative Liberal Democrats will spell a return to the prolonged one-party rule that critics blame for many of the country’s past policy ills.

Three years after the Democratic Party of Japan (DPJ) ended more than half a century of nearly non-stop Liberal Democratic Party (LDP) rule, surveys suggest disappointed voters will hand the LDP the most seats in a December 16 poll for parliament’s lower house. That would put LDP leader Shinzo Abe in pole position to form the next government and regain a job he quit in 2007.

Read Here – Reuters

Another Japanese Prime Minister? Seriously?

Japanese leadership, it’s often said, is a revolving door, one that spits out a new prime minsterevery 12 months or so. You know something’s wrong, though, when it’s spun so far around that it begins churning out yesterday’s castaways.

Such is the case with Shinzo Abe, the man poised to replace Prime Minister Yoshihiko Noda, who will dissolve the Diet on Friday. That paves the way for an election as early as Dec. 16. Then, Noda’s Democratic Party of Japan is almost certain to lose power after just three years. That would put Abe’s Liberal Democratic Party, which ran Japan for roughly 54 years until August 2009, back in control. Abe was an LDP prime minister (and a mediocre one at that) from 2006 to 2007.

Read Here – Bloomberg

Reviving Japan’s Economy With ‘Devil Wives’

After her son was born, Terue Suzuki moved back to her childhood home on weekdays so she could work while her sister cared for the baby, leaving her husband alone in the house they shared. “It was like a weekend marriage,” Suzuki says of the arrangement 14 years ago. “I had a satisfying job and really wanted to go back to it. In Japan, when a woman chooses work instead of staying at home to look after her husband, she’s called a ‘devil wife.’ ”

To spur the country’s moribund economy, Prime Minister Yoshihiko Noda aims to boost the proportion of working women aged 25 to 44 to 73 percent by 2020, from 66.5 percent in 2010.Limited day care, peer pressure, and job inflexibility mean Suzuki remains a minority in Japan, where 70 percent of women quit work with the birth of their first child, says Nana Oishi, a professor at Sophia University in Tokyo. In the U.S., about a third of new mothers don’t return to work, according to a 2010 Goldman Sachs (GS) report.

Read Here – Businessweek

The LDP Shocks Japan And The Region With Its Choice Of A New Leader

ONCE again, the Japanese public must be wondering whether politics only serves to inflict cruel jokes upon them. On September 26th the opposition Liberal Democratic Party (LDP) chose Shinzo Abe, a nationalist former prime minister, to lead it into the next general election, even though he quit as leader after just a year in 2007 because of political failure and a stress-induced bowel illness.

Read Here – The Economist

Japan’s Next Leader Faces One Of World’s Toughest Jobs

Yoshihiko Noda will doubtless win his party’s leadership race this week. There’s little certainty, though, that Japan’s prime minister is up to putting his country, the world’s No. 3 economy, on stronger footing. For starters, Noda’s victory may be Pyrrhic. He is under pressure to dissolve parliament and hold national elections, perhaps as soon as November. His dismal public support raises the specter of the ruling Democratic Party of Japan losing power after just three years. That would put the Liberal Democratic Party, which governed Japan for more than half a century, back on top.

Read Here – Bloomberg

 

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