FOCUS: Kishida Tasked to Revive Economy, Prevent Virus Surge

Politics

Tokyo, Nov. 11 (Jiji Press)--Japanese Prime Minister Fumio Kishida, who was re-elected and launched his second cabinet Wednesday, faces the daunting task of reviving the nation's economy, hit hard by the COVID-19 crisis, while preventing a resurgence of the novel coronavirus.

For the prime minister, there is no room for failure ahead of next summer's election for the House of Councillors, the upper chamber of the Diet, the country's parliament. Kishida is looking to rack up results before the Upper House poll, after he retained power in the Oct. 31 general election for the House of Representatives, the all-important lower chamber.

"We cannot have a political vacuum," Kishida said in a press conference Wednesday night following the launch of his new cabinet. "We will do our best to implement policies with a sense of speed."

Kishida aims to hammer out details of a "new form of capitalism," which he promoted during his campaigns in the ruling Liberal Democratic Party's leadership race in September and the general election.

Arguing that the neoliberal economic policies taken since the time when former Prime Minister Junichiro Koizumi was in office widened disparities among the public, Kishida is seeking to review the "Abenomics" economic policy mix implemented by former Prime Minister Shinzo Abe and create a positive cycle of growth and distribution to rebuild the middle class.

[Copyright The Jiji Press, Ltd.]

Jiji Press