Prime Minister Shinzo Abe was expected to win a ruling party leadership vote on Thursday, setting him on track to become Japan’s longest-serving premier and try to cement his legacy, including by revising the pacifist constitution.
TOKYO (Reuters) – Prime Minister Shinzo Abe was expected to win a ruling party leadership vote on Thursday, setting him on track to become Japan’s longest-serving premier and try to cement his legacy, including by revising the pacifist constitution.
First, however, he must confront the immediate challenge of a likely summit with U. S. President Donald Trump next week, when he will face pressure to cut Japan’s $69 billion surplus with its key ally, nearly two-thirds from auto exports.
Abe must also keep economic growth on track with a dwindling policy tool-kit. After years of heavy money printing, the Bank of Japan has little ammunition left. Japan’s huge public debt and rising social welfare costs for a fast-ageing population also leave Abe with little room to ramp up fiscal spending.
Abe, who surged back to power in 2012 promising to reboot the economy and strengthen defense, is widely expected to defeat former defense minister Shigeru Ishiba in the election for Liberal Democratic Party (LDP) chief, so attention will focus on how many of the 810 votes up for grabs Ishiba manages to get.
Of the 810 votes, 405 are from LDP members of parliament and 405 are apportioned based on votes by rank-and-file party members. A strong showing by Ishiba would suggest Abe could face a harder time pushing his agenda.
