Can Japan’s ‘New Capitalism’ Help Its Workers?

“New capitalism” was the slogan Kishida Fumio ran on in his successful bid to replace the unpopular Prime Minister Suga Yoshihide, who resigned last fall. [...]in his aforementioned policy speech, he stated: “In recent years, the rate at which wages have increased has been on the decline, but I hope...

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Bibliographic Details
Published inDiplomat (Rozelle, N.S.W.)
Main Author Hanssen, Ulv
Format Magazine Article
LanguageEnglish
Published Tokyo Tribune Content Agency LLC 15.02.2022
Subjects
Capitalism
Employment
Exports
Neoliberalism
Political parties
Profitability
Profits
Securities markets
Socialism
Tax cuts
Wages & salaries
Workers
Japan
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Summary:“New capitalism” was the slogan Kishida Fumio ran on in his successful bid to replace the unpopular Prime Minister Suga Yoshihide, who resigned last fall. [...]in his aforementioned policy speech, he stated: “In recent years, the rate at which wages have increased has been on the decline, but I hope we will reverse that trend all at once and wage increases suitable for an era of a new form of capitalism will be realized.” More specifically, the obstacle is Abe, Japan’s longest-serving prime minister (2012-2020) who wields enormous power inside the LDP and might use it to derail Kishida’s project. While a weak yen was good for exporting manufacturers and the stock market, it imposed
Bibliography:ObjectType-News-1
content type line 24
SourceType-Magazines-1
ISSN:1446-697X