Abe also promises to revive economy with aggressive monetary easing and big fiscal spending to halt deflation.
Reuters, December 26
Tokyo – The new Japanese prime minister, Shinzo Abe, has promised to battle deflation and a strong yen, and bolster ties with the United States as he kicked off a second administration committed to reviving the economy while coping with a rising China.
A hawk on security matters, Abe, 58, has promised aggressive monetary easing by the Bank of Japan and big fiscal spending by the debt-laden government to revese deflation and weaken the yen to make Japanese exports more competitive.
“With the strength of my entire cabinet, I will implement bold monetary policy, flexible fiscal policy and a growth strategy that encourages private investment, and with these three policy pillars, achieve results,” Abe told a news conference after parliament voted him in as Japan’s seventh prime minister in six years.
Abe’s long-dominant Liberal Democratic party (LDP) surged back to power in this month’s election, three years after a crushing defeat at the hands of the novice Democratic party of Japan.
Others who share Abe’s agenda to revise the pacifist constitution and rewrite Japan’s wartime history with a less apologetic tone were also given posts, including conservative lawmaker Hakubun Shimomura as education minister.
“These are really LDP right-wingers and close friends of Abe,” said Sophia University professor Koichi Nakano. “It really doesn’t look very fresh at all.”