Japan election: Shinzo wins again

Shinzo Abe call for early elections has bear its fruits with his party coming back to power again for another mandate.

However, this election was one of a kind for Japan as notably, the number of voters reduced drastically, a situation that was not witnessed since the postwar era.

Shinzo Abe who went for elections with its coalition party won 325 seats and is set to lead Japan till 2018.

Abe right now has already much to do with the year 2014 being very stagnant for the Japanese economy and has himself stated that economic policies are his top priority.

The Japanese labor market is also to be immediately considered given the low wages level workers are struggling with.

The elections came out two years earlier despite the opposition’s protestations, but Abe needed time to give way to his reflationary policy.

Nevertheless, Abe’s victory was not enough to revamp the Yen on the market, bearing in mind that he had launched an unprecedented monetary easing to boost the currency.

Also, the series of political scandals attached to Abe’s cabinet, it fell to 48% from a previous 70%.

Other discrepancies regarding his reign over Japan also points to economic ties with China and South Korea.

Both countries are linked to Japan with territorial disputes and Abe’s strategic moves have not encouraged cordial relations between the concerned countries.

Earlier, Chinese leader Xi Jiping and Abe met at a summit and discussed over territorial matters but their relations still remain cold.

Source: Bloomberg

Priscilla Camryn By: Priscilla Camryn