Photo by AFP.Japan began searching for a new prime minister on Tuesday after Yasuo Fukuda became the second leader to abruptly resign in less than a year, threatening a further policy vacuum as the economy teeters on the brink of recession. The frontrunner to become the 11th prime minister in 15 years is former foreign minister Taro Aso, 67, an outspoken nationalist popular with voters who was runner-up to Fukuda in the race for party chief last year.
Markets took the sudden departure of Fukuda in their stride. Both the Nikkei stock average and government bond futures rose after initial wobbles, although analysts said Aso might try to spend Japan's way out of its economic woes. Aso said he thought he was a suitable candidate in a party vote, which Kyodo news agency said was expected on September 22. Fukuda, 72, had been struggling to cope with a divided parliament where opposition parties have the power to delay legislation, and his sudden exit raised questions about his conservative party's ability to cling to power or even hold together after ruling Japan for most of the past 53 years. The bespectacled Fukuda, a moderate conservative who favors close ties with Japan's Asian neighbors, only took office last September after his predecessor, Shinzo Abe, similarly quit after just a year in office. Fukuda's resignation does not automatically mean an early election, ahead of the due date of September next year.
However, whoever the LDP picks as its leader, and thus the next prime minister, might choose an early poll to take advantage of any rise in public support. A complete deadlock in parliament could also force the prime minister to call an election reluctantly. The ruling coalition is almost certain to lose seats, if not its majority, but voters say they want a turn to pick their government. The main opposition Democratic Party has made no secret of its desire to oust the LDP and its junior coalition partner, the New Komeito. If the LDP goes past the outspoken Aso again, other potential leadership contenders are Economics Minister Kaoru Yosano, known for his commitment to fixing Japan's tattered finances, and conservative Yuriko Koike, who was briefly last year the country's first female defence minister. Popular female lawmaker Seiko Noda, currently the minister in charge of consumer affairs, has also been mentioned by the media as a possible successor to freshen up the LDP's image.
Analysts said the next LDP prime minister would face similar woes given the parliamentary deadlock and the party's rusting political machine and scandal-tainted image. Talk of a broad realignment of party alliances has been simmering since the opposition took control of the upper house last year, but it remains to be seem if early moves pick up steam. [End of report]
When I first heard this news yesterday, I have to admit I was quite surprised. I knew that Fukuda had received some criticisms since he took over from Shinzo Abe but I didnt expect him to resign. I dont know what it is about the way they run things in the Japanese government but there will always be some sort of problems whoever the Prime Minister is and it doesnt take long for them to resign. I mean you just have to look at the recent history of the Prime Ministers in the country to really understand what the problem is all about. Fukuda became the second Japanese prime minister in a row to throw in the towel with just under a year in office and the third to do so without holding a general election. I think the country was progressing well when Junichiro Koizumi was still the Prime Minister. I quite like him so it was sad when he had to go. Then I thought Shinzo Abe was an excellent choice to replace him but that wasn't true. It was actually difficult to judge whether he was a success or a failure because he didnt stay in power for a long time, and the same goes with Fukuda.
Lets take a look at some of the candidates that are likely to be the next PM. Taro Aso, the popular former Minister of Foreign Affairs is currently leading the line of likely successors. I believe this is not the first time that he has been in that position, so that just show that he is a strong candidate. The hope is that Aso can can not only rekindle the office's appeal but, much more importantly, help break gridlock in parliament, where the LDP heads a coalition in the lower house of the Japanese Diet. Fukuda reshuffled his Cabinet last month to install Aso in the No. 2 spot as the secretary general of Liberal Democratic Party. The Upper and Lower Houses of the Diet have been paralyzed for more than a year now. Since then, Japanese politics has been rife with indecision which is why it is no surprised that Fukuda's approval ratings have hovering below 30%. Fukuda has not said when his resignation takes effect. But if the LDP elects Aso as president, the expectation is that the much-more appealing leadership could restore confidence in the party and help it win the general elections that needs to take place before Sept. 2009. It is definitely not going to be an easy task for him. I just think if he is elected to be the party's president, which will also mean he will be the next PM before the elections next year, it would be foolish for them to hold an early elections.
I think Aso is a great candidate to be the next PM as far as the party is concern, but I dont think the majority of the people will agree with that. I believe that he decline in the LDP's popularity will definitely have an affect on Aso or anyone else that the party decides to be president during the elections later, whether it will be move forward to this year or not. There are critics, of course, who see no real change as the ultimate outcome of such political maneuverings. The situation in Japan was already in turmoil before Fukuda took over and it is going to get much worse now if they dont sort out things now.
*The report was taken from Reuters.
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