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Suga announces candidacy for PM; says he'll continue Abenomics reforms

By Leika Kihara and Tetsushi Kajimoto

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I can already imagine what Suga will do.

First arrow, printing more money to enrich the foreign investors and LDP cronies. Mostly more towards the foreigners, especially the Americans. Corporate America can finally absorb Japan Inc into a subsidiary, and the Americans may finally bring an end towards Japanese economic model of "social stability above growth." Most likely, the insane stock markets, boosted by QE, will act as intermediaries for a hidden capital flight of Japanese elites to move their wealth from Japan to the outside world - There is a Bloomberg article detailed an insane surge of Japanese money rushing into the Dollarized assets outside Japan, last month - https://www.bloomberg.com/news/articles/2020-06-18/there-s-a-flood-of-japanese-money-rushing-into-dollar-assets.

Second arrow, fiscal reforms once again to benefit the greedy Japan Inc who is close to the LDP cronies. Giving large grants and contracts to Japanese corporate giants who have huge foreign investments within their companies, like Keyence or Dentsu. These economic projects will continue overinflating the stock values to lure more foreign investors, while none of these projects will prove any economic value for the nation and people. The second arrow merely reinforces the illusion of a prosperous economy in the first arrow.

Third arrow, structural reforms to make Japan more like American which will be difficult due to the bureaucrats having some backbones against Americanization of Japan. Except these bureaucrats were stubbornly responsible for Japanese economic malaise in the first place. There will be a reform to boost more women and immigrants into the workforce, probably the only success that Abe did in this category. However, this reform only creates more trainee slavery, overworked single mothers and rising part-time employments. Abe has effectively killed the seniority pays and lifetime employment during his years, which it is a good thing. He unexpectedly exacerbates more inequalities and part-time employments across Japan. Suga will continue the legacy with more Japanese poverty, more foreign slaves-who-turned-into-criminals, more part-time employees-who-considered-as-fulltime-for-the-good-look-on-Japan's labor statistics. The third arrow will go nowhere, and Japan will remain the same conservatism with much worse effects.

Simply, Suga's decades will be the years of getting-nothing-done, Japanese people-get-more-screwed, and Neoliberalization of Japan. Of course, Daddy Reagan and Mother Thratcher will be worshiped on the pedestals of the LDP politics. God Emperor Trump will get in the third pedestal if he gets reelected, and Suga will be expected to kowtow at Trump for the rest of the American presidency. Bigly!

14 ( +14 / -0 )

The real travesty of this system was documented on this website already;


The sad part is no one in Japan seems to be up in arms about this.

This is a travesty and evidence that Japan has become a one party state and is not so far from being or becoming like the People's Republic of China.

8 ( +8 / -0 )

Suga is one of accomplices of problematic Abe government that had undermined democracy of Japan.

He is ringleader who had scrapped and concealed and tampered with inconvenient public documents to defend dishonesty Abe government despite illegal.

Mr. Toshio Akagi who was ordered it, was cornered to suicide.

7 ( +9 / -2 )

according to Tokyo newspaper, actual wages in Japan decreased during Abe "neo-liberalism" government but rich class increased. that is, inequality expanded in also Japan.

Only handful Japanese who can have stock could enjoy the benefits of Abe government.

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Bwahahaha! What reforms?

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Suga announces candidacy for PM; says he'll continue Abenomics reforms

AKA take a sabbatical

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Abenomics reforms

That's a contradiction in terms. An economic stagnation cannot mean a reform in any sense.

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Sadly Japan looks set to continue to rot & decline.....

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Man,the guy with charisma the same as a piece if wet lettuce will become prime minister!

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He has greatness in his blood.

Oh? It's in his actual blood?

4 ( +4 / -0 )

Every commentary on the Abe premiership has mentioned that at the end of the day he didn't accomplish much, depsite having been PM longer than anyone else. Note that this also means that Abenomics has had more time to prove itself than any other policy implemented by any other administration in postwar history -- and it still fell flat.

In that light, the argument that we need continuity of Abe's policies is fantastically ludicrous -- or it would be, if it weren't so troubling.

The real reason that the leadership election is being stacked in favor of Suga is the perceived urgent need to shield Abe from prosecution for the numerous unresolved scandals hanging over him. Ishiba certainly wouldn't protect Abe, but of all candidates, Suga is the most reliable to do so.

Unfortunately, Suga is also the most authoritarian candidate. And that will create even more tension than usual for the tatemae of "democracy" in Japan.

It's hard to see how the approval rate for a Suga Cabinet would be high -- I expect it will start out relatively low, and descend even furrther. And yet since it's unlikely that the opposition will re-take power in the next election (and it's not clear that winning is even their goal, since they don't want to have to clean up the COVID-related mess LDP created), it's possible that we could be stuck with Suga for a while. Japan's election law allows LDP and Komeito to get majorities and even supermajorities despite never getting a majority of the votes cast. The usual tally since 2012 is a bit less than 40% of all votes cast, even when the coalition gets a ⅔ majority. Being unpopular just might not matter much to the LDP.

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"During Abenomics, stocks rose, the yen was weak and wrought unprecedented profits to companies - that's something to be grateful for," Ishiba said on Fuji TV on Wednesday when asked how he would improve the lives of low-income workers and the unemployed.

Classic! Absolutely classic...

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Maybe the LDP can initiate the building of thousands of care homes for the millions of geriatrics that are filling up the hospital beds?

It would spark a mini boom...

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He doesn't seem particularly ambitious, so unless he experiences a smooth and successful ride to the end of the current term, I would guess he bows out next time.

Anyway, here's hoping "Mr. Reiwa" as he is called, the best luck and good success!

2 ( +2 / -0 )

Oh hell, an Abe wannabe! Suga has no backing in the LDP other than Abe and Ashhole and he knows it!

More Abe mistakes for the near future!

No one should worry though, the minute Suga walks out of line, he will be gone too, and the revolving door of PM's will start again!

2 ( +5 / -3 )

Not too optimistic about a Suga premiership then, Xeno?

2 ( +2 / -0 )

More of the same then-flat or falling wages, higher taxes, profligate spending and more of the ‘can’ being kicked down the road!

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Not too optimistic about a Suga premiership then, Xeno?

Kono is much better but it is unfortunate that he isn't likely to win.

2 ( +2 / -0 )

......thus ushering a new era of the revolving door

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It means Ishiba will have to wait one year longer. Sugar will serve only the remaining term of Abe before being kicked out in a larger leadership vote in October 2021.

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Whom ever going to be Mr. Abe’s successors needs to stand strong and don’t bend down against any threats from neighboring countries such as China and S. Korea.

please always keep JAPAN in greatest as the third economic in the world. Please don’t let neighboring country S.Korea to steal that spot as they have always played dirty tricks and trades attacking Japan.

From one of the supporters in the world whom love Japan!

-1 ( +0 / -1 )

I'm excited. Suga is the leader Japan needs right now. Full of enthusiasm and new ideas. Lots of charisma and he'll get the younger generation of voters out to the polls. Its so appropriate that he'll be Japan's next leader as he was the Reiwa unveiler. You can tell he's excited and motivated to bring Japan into the post-Covid-19 world. I predict Suga will be Japan's leader for years to come. He has greatness in his blood.

-3 ( +5 / -8 )

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