There's an interesting article in BusinessWeek asking whether Japan will intervene to push down the strengthening yen. The consensus seems to be that it will, even though such a policy is not necessarily optimal from an economic viewpoint, and may not in fact work. But a weak yen seems to still be an important part …
Month: January 2009
The conservatives humbled
Perhaps one of the positive consequences of Japan's economic crisis is that it has silenced Japan's conservatives.By silenced I do not mean literally silenced — they're still fulminating. What I mean is that they have been rendered irrelevant by events. Despite their media power, their ability to churn out a seemingly infinite amount of books, …
Obama says what Aso can’t
http://youtube.com/v/VjnygQ02aW4The impression I got from watching President Barack Obama's inaugural address is that he is acutely aware of the burden that has now fallen upon his shoulders.But I also think that in this address he accomplishes what Prime Minister Aso Taro has thus far failed to do. He does not hesitate to state his appreciation …
The LDP’s tax revolt
The upper house has begun debating the Aso government's second stimulus package and its controversial proposal to distribute roughly two trillion yen to Japanese citizens, 12,000 yen (US$132) per person in the hope of restarting the Japanese economy.At the same time, the LDP is in the midst what could be the climactic battle in a …
The LDP and the DPJ face the future
The LDP and the DPJ had their annual conventions in Tokyo over the weekend, steeling their resolve for the Diet session already underway and the general election that will occur within the year.For the second straight year, the incumbent LDP president and prime minister told the party faithful that the "responsible governing party" (how the …
Ambassador Schieffer’s farewell
J. Thomas Schieffer, US ambassador to Japan since 2005, left Japan Thursday.To mark his departure, Ambassador Schieffer gave a farewell address at the National Press Club in Tokyo Wednesday, followed by a long press conference that ranged over a host of topics, not all of them having to do with Japan and US-Japan relations.The central …
Departures
Watanabe Yoshimi is on his own.As Jun Okumura makes exceedingly clear, there is little chance that Mr. Watanabe will be joined by other LDP defectors in his effort to build a national movement to take down the old guard. (Although, surprisingly, Mr. Watanabe was joined by an LDP abstainer — Matsunami Kenta — in Tuesday's …
Omission vs. commission (Noah Smith)
There's been some discussion on this blog about how much responsibility the LDP bears for Japan's current economic woes. Has Japan been helplessly swept up in a crisis of America's making? Or did LDP policies leave Japan more vulnerable than necessary to the storms sweeping the global economy?The answer, as I see it, is "both." …
LDP members respond to Watanabe
Yamauchi Koichi, a first-term LDP member from Kanagawa's ninth district, making him a Koizumi child, has offered his response to Watanabe Yoshimi's leaving the LDP at his blog, a response that I think is typical of the Koizumi children as a whole.Mr. Yamauchi shares Mr. Watanabe's ideas of political and economic reform and is thus …
Aso the impervious?
The bad news keeps coming for Prime Minister Aso Taro.He has been hit with another wave of negative poll results. In Yomiuri, his approval rating is a hair over 20%, while his disapproval has broken 70%, rising to 72.3%. In the same poll, Ozawa Ichiro remains gained another three points in the question of who …
Tobias S. Harris 