Japan general election: the ‘new capitalism’

Michael Roberts Blog

There is one G7 leader who won’t be at the Glasgow COP26 or G20 meeting in Rome this weekend.  That is Japan’s new prime minister Fumio Kishida, who, after replacing the unpopular Yoshihide Suga as leader of the ruling Liberal Democrat party, has called a snap general election.

Kishida is putting at serious risk the majority for his party in the election. The LDP has lost support through its handling of the COVID crisis and because of the failure of the economy to make any significant recovery from the pandemic slump in 2020. Opinion polls suggest that the LDP’s representation could be reduced from 275 seats in the previous parliament to just 233 seats this time. The LDP would lose its outright majority and be forced into a coalition with its tame junior coalition party Komeito to sustain power.

Voter turnout will be crucial.  Higher turnouts tend to help the…

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