The Economist (September 2)
“Japan’s ruling party should cast its most famous member, Ichiro Ozawa, into the wilderness.” The DPJ should reject Ozawa and the old-school politics he represents. The Economist warns the DPJ “can expect no mercy” from voters if they elect Ozawa as their leader.
Wall Street Journal (August 1)
The Wall Street Journal concludes “the DPJ’s victory was a false dawn.” The party in power has changed, but Japan remains stuck “with an ineffective government.” The Journal is convinced the DPJ may not be around for long because it is “doomed to fail.”
The Wall Street Journal concludes “the DPJ’s victory was a false dawn.” The party in power has changed, but Japan remains stuck “with an ineffective government.” The Journal is convinced the DPJ may not be around for long because it is “doomed to fail.” \
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.”
Financial Times (June 2)
The twin resignations of Yukio Hatoyama and Ichiro Ozawa may look bad for Japan and its Democratic Party (DPJ). But the Financial Times thinks these departures could be a good thing. “The DPJ and Japan’s body politic has been lanced of two festering boils,” leaving both in a “stronger position.” Especially with the right leadership, “something good could yet come out of this political farce.” Moreover, the newspaper is enthusiastic about Naoto Kan’s ability, as a reformer and fiscal conservative, to provide that leadership.
