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Beware of Japan’s “New Capitalism”

Fresh off an electoral victory, Japan’s new prime minister, Fumio Kishida, is already offering a glimpse of what his economic policy program will look like in practice. Unfortunately, early signs suggest that while his aims are sound, his policies are not.

TOKYO – Japanese Prime Minister Fumio Kishida survived the general election on October 31, which came just weeks after his arrival in office as the new leader of the nation. Losing only 15 seats, the Liberal Democratic Party (LDP) performed better than expected and will maintain a comfortable majority in the House of Representatives, with 261 of 465 seats.