The China Mail - Takaichi on course for landslide win in Japan election

USD -
AED 3.672504
AFN 64.000368
ALL 80.660025
AMD 364.155001
ANG 1.790365
AOA 918.000367
ARS 1524.750402
AUD 1.417435
AWG 1.8
AZN 1.70397
BAM 1.716593
BBD 2.014833
BDT 123.096502
BGN 1.683441
BHD 0.377145
BIF 3013.033747
BMD 1
BND 1.278097
BOB 12.259622
BRL 5.188104
BSD 1.000307
BTN 95.794093
BWP 13.621802
BYN 3.022425
BYR 19600
BZD 2.011937
CAD 1.41495
CDF 2340.000362
CHF 0.828271
CLF 0.024357
CLP 961.770396
CNY 6.71325
CNH 6.734304
COP 3348.488173
CRC 454.820731
CUC 1
CUP 24.008426
CVE 96.778865
CZK 21.384404
DJF 178.136657
DKK 6.562804
DOP 59.49006
DZD 133.78604
EGP 51.914688
ERN 15
ETB 162.282003
EUR 0.87791
FJD 2.24725
FKP 0.754924
GBP 0.754689
GEL 2.61504
GGP 0.754924
GHS 11.618906
GIP 0.754924
GMD 73.503851
GNF 8797.998859
GTQ 7.639444
GYD 209.30355
HKD 7.84345
HNL 26.849519
HRK 6.613804
HTG 130.916751
HUF 320.61504
IDR 17914.1
ILS 3.04806
IMP 0.754924
INR 95.817504
IQD 1310.484048
IRR 1374575.000352
ISK 120.260386
JEP 0.754924
JMD 158.265678
JOD 0.70904
JPY 157.28504
KES 129.644095
KGS 87.448204
KHR 4068.10901
KMF 433.00035
KPW 900.000318
KRW 1355.185039
KWD 0.30864
KYD 0.833633
KZT 443.156186
LAK 22438.232325
LBP 89581.428007
LKR 330.293588
LRD 172.063018
LSL 16.32106
LTL 2.95274
LVL 0.60489
LYD 6.395752
MAD 9.599596
MDL 17.756616
MGA 4416.553298
MKD 54.043972
MMK 2099.36214
MNT 3596.164164
MOP 8.082152
MRU 40.243999
MUR 47.530378
MVR 15.450378
MWK 1734.585509
MXN 17.679204
MYR 4.074104
MZN 63.910377
NAD 16.32106
NGN 1326.380377
NIO 36.810462
NOK 9.50785
NPR 153.270725
NZD 1.749629
OMR 0.385571
PAB 1.000307
PEN 3.395971
PGK 4.456927
PHP 62.347038
PKR 277.197262
PLN 3.83775
PYG 5896.344407
QAR 3.646377
RON 4.629204
RSD 103.085092
RUB 84.346338
RWF 1478.474569
SAR 3.752852
SBD 8.000512
SCR 13.902664
SDG 601.503676
SEK 9.91775
SGD 1.277904
SHP 0.755002
SLE 24.650371
SLL 20969.491881
SOS 571.729495
SRD 37.667504
STD 20697.981008
STN 21.503489
SVC 8.753236
SYP 13002.000254
SZL 16.317198
THB 33.375038
TJS 9.228244
TMT 3.51
TND 2.961425
TOP 2.40776
TRY 48.942504
TTD 6.803879
TWD 31.728704
TZS 2654.934831
UAH 44.794751
UGX 3918.023434
UYU 40.075482
UZS 11839.206565
VES 852.43145
VND 25976
VUV 118.388248
WST 2.745723
XAF 575.871484
XAG 0.015553
XAU 0.000233347179
XCD 2.70255
XCG 1.80287
XDR 0.707052
XOF 575.871484
XPF 104.673717
YER 236.650363
ZAR 16.304245
ZMK 9001.203584
ZMW 19.513758
ZWL 321.999592
SSP 5712.591904
MXV 2.00344
  • AZN

    2.0200

    166.58

    +1.21%

  • GSK

    -0.4100

    49.24

    -0.83%

  • RIO

    0.0900

    94.56

    +0.1%

  • BCE

    -0.3300

    20.97

    -1.57%

  • NGG

    0.2600

    75.49

    +0.34%

  • CMSD

    -0.0700

    20.3

    -0.34%

  • RBGPF

    -0.5900

    65.4

    -0.9%

  • RYCEF

    -0.3600

    19.31

    -1.86%

  • RELX

    0.0100

    33.52

    +0.03%

  • CMSC

    -0.1100

    20.4

    -0.54%

  • BTI

    -0.3900

    55.63

    -0.7%

  • BP

    -0.2600

    44.15

    -0.59%

  • VOD

    0.1300

    16.62

    +0.78%

  • BCC

    1.0400

    77.14

    +1.35%

  • JRI

    -0.1500

    11.02

    -1.36%

Takaichi on course for landslide win in Japan election
Takaichi on course for landslide win in Japan election / Photo: © AFP

Takaichi on course for landslide win in Japan election

Japanese Prime Minister Sanae Takaichi was on course for a thumping victory in snap elections on Sunday, a result that could however rile China and worry financial markets.

Text size:

Capitalising on her honeymoon start as Japan's first woman premier, Takaichi's ruling bloc looked to have secured a two-thirds majority in the lower house, according to media estimates.

If confirmed, it would be the best result for the Liberal Democratic Party (LDP) since elections in 2017 under Takaichi's mentor, assassinated former prime minister Shinzo Abe.

The LDP alone was seen winning about 300 of the 465 seats up for grabs, up from 198, and regaining a majority -- and potentially a super-majority on its own without its junior partner, the Japan Innovation Party (JIP).

"We received (voter) backing for Prime Minister Sanae Takaichi's responsible, proactive fiscal policies and a strengthening of national defence capabilities," LDP secretary general Shunichi Suzuki told media.

The new Centrist Reform Alliance of the main opposition Constitutional Democratic Party (CDP) and the LDP's previous partner Komeito looked to have lost more than two-thirds of its 167 seats.

The anti-immigration Sanseito party was projected to have increased its seats from two to between five and 14, broadcaster NHK said.

- A hit with voters -

Takaichi has injected new life into the LDP, which has governed Japan almost non-stop for decades but which has shed support in recent elections because of unhappiness about rising prices and corruption.

A heavy metal drummer in her youth and an admirer of Britain's "Iron Lady" Margaret Thatcher, Takaichi was on the ultra-conservative fringe of the LDP when she became party chief and prime minister in October.

She has defied pessimists to be a hit with voters, especially young ones, with fans lapping up everything from her handbag to her jamming to a K-pop song with South Korea's president.

She also pulled out all the stops to welcome US President Donald Trump shortly after she took office.

Two days before the polls, Trump endorsed Takaichi as a "strong, powerful, and wise Leader, and one that truly loves her Country".

But she will have to deliver on the economy and inflation, which contributed to the demise of her two predecessors, Fumio Kishida and Shigeru Ishiba.

"With prices rising like this, what matters most to me is what policies they'll adopt to deal with inflation," Chika Sakamoto, 50, told AFP at a voting station in a snowy Tokyo on Sunday.

"Prices for just about everything are really going up, but incomes aren't rising much, so our disposable income is shrinking," she said.

- Pandas and public debt -

However, Takaichi has not had everything her own way, particularly with regard to worries about her stewardship of the public finances of Asia's number-two economy.

She followed up a $135 billion stimulus package aimed at easing the pain of inflation -- a big cause of voter discontent -- with a campaign promise to suspend a consumption tax on food.

Japan's debt is more than twice the size of the entire economy, and in recent weeks yields on long-dated bonds have hit record highs, causing jitters worldwide.

"Various parties are proposing policies like abolishing the consumption tax. While that might be fine for now, I'm very worried about whether such measures are truly responsible for the generations that come after us," voter Taku Sakamoto, 49, told AFP.

"We have consistently stressed the importance of responsible and proactive fiscal policy," Takaichi insisted late Sunday.

Her election triumph may also cause consternation in Beijing.

Barely two weeks in office, Takaichi -- seen before assuming the premiership as a China hawk -- suggested that Japan could intervene militarily if Beijing sought to take self-ruled Taiwan by force.

China, which regards the democratic island as part of its territory and has not ruled out force to annex it, was furious with her unscripted remarks.

It summoned Tokyo's ambassador, warned its citizens against visiting Japan and conducted joint air drills with Russia. Japan's last two pandas were even returned to China last month.

Margarita Estevez-Abe, associate professor of political science at Syracuse University, said the China episode raised Takaichi's popularity even more.

"Now she doesn't have to worry about any elections until 2028, when the next upper house elections will take place," Estevez-Abe told AFP before the polls.

"So the best scenario for Japan is that Takaichi kind of takes a deep breath and focuses on amending the relationship with China."

Q.Moore--ThChM