JAPANESE PRIME MINISTER SHIGERU ISHIBA STEPS DOWN

Written by Michael Thervil

JAPANESE PRIME MINISTER SHIGERU ISHIBA STEPS DOWN | PHOTO BY REUTERS

[Japanese Prime Minister Shigeru Ishiba] 68-year-old Japanese Prime Minister Shigeru Ishiba who took office last October has decided to step down for two reasons which range from the lack of Japanese voter confidence in his ability to lead Japan in these changing times and secondly, if he didn’t agree to step down, this would lead the Liberal Democratic Party to forcefully remove him from office. Whether Prime Minister Shigeru Ishiba was to be forced out of the LDP or not, the reason why all of this is taking place is because of his highly conservative fiscal position when it comes to controlling the Japanese economy. In being so conservative fiscally, it has resulted in Japan citizens becoming “Fed up” and “dissatisfied” with the cost of living in Japan increasing, declining demographics, as well as experiencing inflation and the increase in the price of rice.

In a statement made to the Japanese Press, Prime Minister Shigeru Ishiba said:

“With Japan having signed the trade agreement and the President having signed the executive order, we have passed a key hurdle. I would like to pass the baton to the next generation.”

 The LDP has maintained its power over Japanese voters since for roughly 70 years, the breaking point for Prime Minister Shigeru Ishiba was exacerbated by him essentially giving in to the lopsided demands of American President Donald Trump's reciprocal tariffs. the deal which resulted in Japan investing an estimated $550 billion of investment into America for a reduction in tariffs on the export of Japanese goods into America at a rate of 15% down from 25% was largely seen both domestically and internationally as a not only a bad deal that currently unresolved; but a deal that lowered the status of Japan on the world stage to that of an American vassal state. The signing of the trade deal with America resulted in a crushing blow to Japan’s already fiscally injured auto manufacturing market.  

Outside of that, Prime Minister Shigeru Ishiba also expressed that he feels “A great sense of regret" in terms of last year's election results, but has furloughed the action of stepping down until the trade deal with America closes. In terms of possible successor’s, there are two that have come to the forefront, Ms. Sanae Takaichi conservative and who holds a critical position on Japan's rising interest rates and lost to Prime Minister Shigeru Ishiba by a very small margin in the last run off.

Then there’s Shinjiro Kolzumi, agricultural minister and son of former Prime Minister Junichiro Koizumi, who is seen as “the same as the old boss” through the eyes of Japanese voters. Many analysts forecasted that the resignation of Prime Minister Shigeru Ishiba “Was inevitable” after his perpetual election losses and the fact that the Japanese Yen has fell into freefall against the American dollar and now the Japanese markets have shown an increase in volatility on his watch.

OUR POSITION AT VEDA WORLD NEWS

Japan’s political complex is just as complex as it is simple to understand, but with that, it should be known that Japan is in desperate need of an overhaul when it comes dealing with domestic issues such as inflation and its decline in demographics. But even more than that, Japan needs to figure out a way to infuse more of its youth into the world of Japanese politics and find ways to address the needs of its youth. It’s one thing to have a conservative approach in terms of domestic and geopolitical politics; but it’s another thing to be relevant in domestic and geopolitics and right now Japanese leaders are neither.

The lopsided deal that was made by Prime Minister Shigeru Ishiba with the Trump Administration should have been better thought through and executed. By the estimate of many, Prime Minister Shigeru Ishiba should have not only took a hard stance towards the trump Administration Reciprocal tariffs, but doubled down on that stance and countered the Trump Administration's tariffs with their own tariffs in order to set a tone that would have both bolstered the support of the Japanese people but not make Japan appear to be a vassal state of America on the world stage.

It's time that Japan get series about not only engaging Japanese youth, but its time Japan started allowing more youth to enter the realm of politics as actual candidates and front runners. With Prime Minister Shigeru Ishiba stepping down to avoid being forced out by his own party and by the Japanese people; the state of Japan appears to be much like the Japanese Yen – in free fall.