Kishida and increasing debt in Japan: Russia and Ukraine
Kanako Mita, Sawako Utsumi, and Lee Jay Walker
Modern Tokyo Times
The early leadership of Prime Minister Fumio Kishida of Japan is increasing debt and anti-China and anti-Russian Federation nationalism. Hence, while Japan logs the second-largest current account deficit (since statistics began in 1985), Kishida can find more money for Ukraine at the drop of a hat.
Thus, one can only imagine how the deficit will feel the convulsions of the crisis in Ukraine. Kishida promised “a new way” to capitalism that would be more equal. Instead, from the huge 1.2 trillion yen deficit in January – to the highest number of coronavirus daily deaths happening on his short watch – his administration is merely a hotbed of anti-China and anti-Russian Federation members, who earnestly abide by nationalism and an almost slavish approach to America.
Many ordinary citizens in Japan who voted for Kishida – and the usual dominance of traditional families that govern in this estranged democratic nation – are feeling short-changed by the early period of Kishida’s leadership.
Citizens in Japan seek to enhance their living standards. Instead, it is endless economic stimulus packages to bail out a moribund economic system that helps rich investors and inefficient companies – while consumption tax was increased to its highest a few years ago (this hits the working poor the most in real terms). Nationalist sentiments are also leading to an increase in military spending. Therefore, despite the spiral of debt, the recent leaders of Shinzo Abe, Yoshihide Suga, and Kishida (current leader) are entangling Japan in the webs of America’s foreign policy aimed at China and the Russian Federation.
Ordinary taxpayers – and the working-poor – want a government that works for them. After all, the economic convulsions of the coronavirus have hit the poorest in society the most. However, even during this difficult period – and with daily coronavirus (Covid-19) deaths being the highest during the early Kishida administration – the current leader focuses on endless anti-Russian Federation rhetoric and supplying a cozy economic tap for nationalists in Ukraine.
The ruling elites who govern the country under the Liberal Democratic Party (LDP) don’t concern themselves with “bread and butter issues.” Since the middle of the last century – bar the odd hiccup – it is the continuous rule of the LDP that governs the nation. Also, traditional political families dominate the power mechanisms of the corridors of power.
Japan’s debt is approximately 1.4 quadrillion yen (roughly $13.1 trillion US dollars) – thus roughly 260 percent of GDP.
However, despite the impact of the coronavirus – and Japan caring little about West Papua to nations involved in bombing Yemen – suddenly, the last two administrations are becoming more anti-China and anti-Russian Federation. Therefore, Kishida keeps on throwing money at Ukraine and concerning itself with endless anti-Russian Federation rhetoric (China, India, Iran, Pakistan, Saudi Arabia, Vietnam, and others throughout Asia) at a time of increasing debt and growing marginalization of the working poor.
Japan will feel the self-induced convulsions of the crisis in Ukraine – while further undermining its relationship with yet another nation in Northeast Asia (China, North Korea, South Korea, and now the Russian Federation all have negative relations).
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