by Jeffrey P. Snider
Alhambra Partners
As an outsider, it is difficult to gain the pulse of Japanese politics. Viewing it all only from an economic or financial perspective is immediately too narrow. There is far more than just Abenomics at stake, though Prime Minister Abe used the crutch of Abenomics’ failure so far as somehow a benefit. There are other factors, perhaps more important factors, to consider, but on the economic front it doesn’t appear as though the opposition had much to offer other than to point out the obvious. The Prime Minister scored voter points by at least being consistent.
Turnout was quite low, but still Abe’s party was able to manage 56 of the 121 contested seats. With coalition partners taking 21 more, they upper house bloc fell only one seat short of the supermajority.