In my earlier post, I stated that Japan's current-account surplus can vanish in one of two ways: either Japan can consume more (which it won't because of debt and demographics), or it can (over)produce less. That is true. But when the adjustment happens is not set in stone.A casual observer might think that Nakagawa Shoichi's …
Tag: LDP
Aso falls below ten percent
NTV has just released a new opinion poll conducted over the weekend that shows that Aso Taro's approval rating has fallen below 10%, clocking in at 9.7% compared with 17.4% the previous month. His disapproval rating in the same poll rose seven points to 76.2%.Among the 55 respondents who said they support the Aso government, …
Koizumi laughs
Did Koizumi Junichiro just kill the Aso government with a laugh?Speaking at a meeting of the Diet members' group for the promotion of postal privatization, an LDP study group featuring a number of leading reformists, including Nakagawa Hidenao, Shiozaki Yasuhisa, Takebe Tsutomu, and Ishihara Nobuteru, Mr. Koizumi commented on Aso Taro's recent remarks about "revising" …
Mrs. Clinton and Mr. Ozawa
The US State Department is reportedly sounding out the DPJ on the possibility of a meeting between Secretary of State Hillary Clinton and DPJ President Ozawa Ichiro when Secretary Clinton visits Japan next week.Sankei reports that it would be the first ever meeting between a US secretary of state and the leader of a Japanese …
Just a flesh wound
Speaking in the lower house's budget committee on Monday, Aso Taro said, "If you compare our economic conditions to other countries, our wounds are shallow."Naturally I immediately thought of nothing so much as this:I think Jun Okumura is on to something when he writes that the prime minister isn't a "total nincompoop," just in his …
A twenty years’ crisis
"Japan is an economy that is almost certainly producing well below its productive capacity - that is, the immediate problem facing Japan is one of demand, not supply. And it gives every appearance of being in a liquidity trap - that is, conventional monetary policy appears to have been pushed to its limits, yet the …
The LDP fiddles while its kingdom burns
As LDP members increasingly come to terms with what looks to be certain defeat in this year's general election — described in graphic terms by MTC as the LDP's "thrashing about and coughing up blood" — the party's leaders continue to struggle in vain for some way to avoid destruction.As I mentioned in a discussion …
Can the LDP — or anyone — eradicate amakudari?
The Aso government, looking to hasten the passage of the FY2009 budget (the third stage of Prime Minister Aso's plan to overcome the recession), has promised to accelerate the timetable for introducing the ban on the practice of amakudari and the related practice of watari, whereby a retired bureaucrat wanders to other employers who might …
Continue reading Can the LDP — or anyone — eradicate amakudari?
The elusive Nakagawa Hidenao
Will the Machimura faction live to fight the next election after all?Nakagawa Hidenao, a member of the triumvirate that leads the faction and a leading critic of Mr. Aso, was defiant in the face of criticism from Mori Yoshiro, don of the faction, seeing no reason for stepping down from the triumvirate. He denied claims …
Aso calls for a new Japan
Prime Minister Aso Taro, having had his second stimulus package pass the Diet Tuesday, appeared before the Diet on Wednesday to deliver his latest policy address.Rhetorically, the address contains few surprises. In the opening sections, in which Mr. Aso addressed the principles behind his policies. He spoke of the "once in a century economic crisis" …
Tobias S. Harris 