Japan Innovation Party leader Kenji Eda couldn’t have framed the events in starker terms when he discussed the issue of the Asian Infrastructure Investment Bank at a press conference last Thursday: “It was a victory for Chinese diplomacy and a complete defeat for Japanese diplomacy,” he declared.
Political donations have been a problem for Japanese politicians for a very long time. Prime Minister Shinzo Abe has already has lost three of his ministers due to alleged violations of the Political Funds Control Law after the reshuffle of his Cabinet in September last year, and suspicions are being raised about a fourth, Education Minister Hakubun Shimomura.
One of the major reasons for Prime Minister Shinzo Abe’s reelection last December, apart from a weakened and divided opposition, was the stability of economic policy. With a weakened yen, a stock index that is surging, and long-awaited inflation instead of deflation, Abe has been able to claim several successes.
Today Prime Minister Shinzo Abe will form his third cabinet since his December 2012 return to power. It will look an awful lot like the second cabinet, the only difference being that underperforming Defense Minister Akinori Eto will be dropped in favor of veteran hand Gen Nakatani.
Prime Minister Shinzo Abe’s rather bizarre decision to call an early general election at a juncture that is distinctly unfavorable to his personal interests has set analysts ablaze, wondering how many seats the LDP-Komeito coalition can lose before Abe’s gambit would be judged a political failure.