New York Times (May 15, 2013)
Pakistan’s “election was a welcome repudiation of militants who are trying to overthrow the state.” With nearly 60% voter participation, Pakistan is achieving “a peaceful transition of power in a country where coups have predominated…. Pakistanis deserve credit for their courage, and the military for allowing the election to go ahead and deploying 73,000 troops to keep order.”
Wall Street Journal (November 25)
At a time when Japan really needs a leader, none of the candidates for Prime Minister measure up. “As giant problems in need of urgent solutions go, Japan is a thing of beauty. Its economy contracted by 3.5% on an annual basis from July to September, and slack exports and declining industrial production suggest another recession is coming. Demographic decline is well underway and Tokyo’s fiscal position—with debt roughly twice annual output—appears ever more precarious. So it’s a shame, as the Japanese head to the polls next month, that no candidate is offering even plausible solutions.”
Tags: Demographics, Economy, Election, Exports, Japan, Prime minister, Recession
Economist (October 9)
As the U.S. presidential election heats up, the media is awash in party-related statistics. The Economist reports that since 1929, “America’s stockmarket has gained more under Democratic than Republican presidents” with Democratic administrations presiding over a 460% increase in nominal share prices versus 100% for Republican administrations. In terms of cumulative returns, the results are even starker. The Democrats scored 300% versus the Republican’s 0%.
Tags: Democrat, Election, Presidents, Republican, Share prices, U.S.
Washington Post (January 2)
The economy may very well determine if President Obama is reelected in 2012. But “given all the possibilities, handicapping the election based on the economy is nearly futile.” Even omitting outside factors like the euro zone crisis or the bubble in China, the U.S. economy remains too hard to call, making it “2012’s political wild card that — when played — may prove decisive, if accidental.”
Financial Times (June 7)
In Turkey, elections are slated for Sunday. It’s a foregone conclusion that Reçep Tayyip Erdogan’s Justice and Development party (AKP) will win. The AKP has controlled the country since 2002 and Prime Minister Erdogan is extremely popular. A close election would be the better than a landslide. “The big decisions that Turkey’s next parliament will take will carry greater weight if they are shaped by the opposition as well as the AKP.” These decisions include whether to switch from a parliamentary system to a presidential system.
Tags: Election, Erdogan, Opposition, Parliament, President, Turkey
Wall Street Journal (May 4)
What accounts for the landslide victory of Stephen Harper’s Conservative Party on Monday? The Journal thinks the success is due to the conservative economic policies that Harper has put in place since 2006. “Canada’s general sales tax fell to 5% from 7%. Mr. Harper has also cut the federal corporate tax rate, which is now 16.5% and is scheduled to fall to 15% in 2012.” To be sure, Canada also benefited from oil and mineral deposits, which helped boost GDP growth beyond that of the U.S. Moreover, Harper has pledged to “balance the budget by fiscal 2014-2015 without raising taxes, which was a clear dividing line in the recent campaign.”
Wall Street Journal (July 10)
Japan’s election results delivered a clear message from unhappy voters: “no tax hikes, please.” Had Prime Minister Naoto Kan stopped with his “idea of slashing Japan’s corporate-tax rate, the highest in the developed world, to attract investment,” the results of the election might have been different. Instead voters were “revolted” by his subsequent call to double the current 5% consumption tax “when government spending remains out of control and economic growth is weak.”
The Times (May 6)
With voters heading to the polls in a race that’s too close to call, The Times calls the election “historic in both style and substance.” Most had assumed the election would be “dominated by apathy and indifference.” Instead, the election has proven “deeply invigorating.” With Britain both at war and facing economic uncertainty, The Times proclaims, “this is the most important election for a generation.”
With voters heading to the polls in a race that’s too close to call, The Times calls the election “historic in both style and substance.” Most had assumed the election would be “dominated by apathy and indifference.” Instead, the election has proven “deeply invigorating.” With Britain both at war and facing economic uncertainty, The Times proclaims, “this is the most important election for a generation.”
