Japan needs to develop ‘amicable, stable’ relationship with China: Japan’s Abe

I thought they were wrong in November a year ago, and I still think they’re wrong now.

Abe also vowed to increase the nation’s dwindling birthrate by implementing measures to help households with children and thereby keep the population at around 100 million or more over the next five decades.

“We the Japanese are willing and prepared to discharge even greater responsibility as a permanent member of the Security Council for the objective of creating a better world”, Abe told reporters.

Having failed to garner the requisite parliamentary strength, Abe at one time toyed with the idea of lowering the legal bar for constitutional amendment by a simple majority in place of the present complicated method of two thirds majority in both Houses followed by a national referendum on the issue. The enactment of new security legislation is a continuation of Japan’s previous policy moves to make it able to play a part in combating worldwide terrorism but this merely provides a framework. This came through the first two “arrows”, monetary and fiscal stimulus. Time is running out for the elderly victims to receive proper compensation and an apology from the Japanese government, with just 47 registered comfort women left in South Korea. However, there are no prospects that a virtuous economic cycle pursued by Abenomics will be achieved in the foreseeable future. This followed a contraction of Japan’s economy by 0.4% in the April-June quarter.

What’s more, Japanese inflation isn’t back to zero once the effects of volatile oil and food prices. “But such policies are curiously absent from the new additions to the quiver”, the newspaper said. His popularity has tumbled, and his flagship economic policy is failing to produce the goods. “There are many things that we should do before accepting immigrants”, Abe told a news conference, according to the official translation of his comments.

The question relating to Japan’s right to collective self-defence has a long history traceable to 1947 when the U.S. sponsored constitution was promulgated. Agricultural reform has gone as planned, and corporate governance reform has been lauded.

Abe and Biden also discussed the need to reach an early conclusion of the Trans-Pacific Partnership free trade arrangement.

Last month Japan enacted a law forcing larger firms to disclose their targets for hiring female employees and promoting them to senior positions.

The recent fallout in markets, triggered by events in China, are more a reflection of investor nervousness ahead of an impending United States rate hike rather than a fundamental change in the path of global economic growth.

Japan’s economy is also receiving a boost from growing tourism numbers, particularly coming over from China, who spend more than domestic buyers. Japan has generated the largest revenue as a single country in the APAC region for JP Morgan, a year ago accounting for almost 20 percent of $6.1 billion regional revenue. “But for now, Abenomics is very much alive and kicking when you look beyond the headlines”, Bird said.

But more pressing than these financial considerations is the potential erosion of public support for Abenomics and for the administration itself.