Japan’s Upper House Election: Expect More Static Wages and Growing Debt

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Election to the Upper House of Japan: Expect more static salaries and growing debt

Kanako Mita, Sawako Utsumi, and Lee Jay Walker

Modern Tokyo Time

Voting is underway in Japan on the Upper House election. However, with the recent murder of Shinzo Abe casting a large shadow, political debates are more muted regarding the surreal events of the past few days.

The ruling Liberal Democratic Party (LDP) dominates the mechanisms of political power. This fact dates back to the mid-1950s. Therefore, little change related to the concentration of power in Japan is expected – only the degree of control is expected.

The yen is plummeting against the dollar, food to energy continues to rise as wages remain static and regional tensions are rising over Kishida’s anti-Russian Federation stance. This occurs during the first year of Kishida’s leadership. Moreover, despite the horrible mountain of debt – and the Bank of Japan buying Japanese government bonds like never before, Kishida is looking to double the military budget.

Only 125 places are up for grabs. It is therefore hard to imagine the ruling LDP – and its junior partner Komeito – failing to retain a majority in the Upper House. Especially given the divided nature of the opposition.

NHK reports, “Another key issue is the Constitution. Japan hasn’t changed its Basic Law in 75 years…and the main ruling party says it should be updated to keep up with the times.

Whether the Democratic Constitutional Party of Japan – and the Innovation Party of Japan – will be able to consolidate their respective power bases remains to be seen. Therefore, individuals do not expect any real change regardless of the outcome – the same issues regarding pension fears, low birth rate, static wages, energy issues and other significant issues will continue. to be neglected (similar problems for more than two decades) long after the political dust settles.

Kishida uses the threat of the Russian Federation and China – speaking of the military. So, despite the world’s highest debt ratio – and an electorate preoccupied with bread-and-butter issues – the only real outcome of the election concerns Japan’s military budget and Kishida amending the Constitution to meet to its optimistic nationalist demands.

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