Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Japan's Shinzo Abe sought to revive economy, fulfil conservative agenda

Published 08/07/2022, 05:30
Updated 08/07/2022, 05:35
© Reuters. FILE PHOTO: Japan's Prime Minister Shinzo Abe stands in front of Japan's national flag after his ruling Liberal Democratic Party's (LDP) annual party convention in Tokyo, Japan, March 5, 2017.  REUTERS/Toru Hanai

© Reuters. FILE PHOTO: Japan's Prime Minister Shinzo Abe stands in front of Japan's national flag after his ruling Liberal Democratic Party's (LDP) annual party convention in Tokyo, Japan, March 5, 2017. REUTERS/Toru Hanai

TOKYO (Reuters) - Shinzo Abe, Japan's longest-serving prime minister, launched his "Abenomics" policies to lift the economy out of deflation, beefed up Japan's military and sought to counter China's growing clout in a historic two-term tenure.

Abe, 67, appeared to have been shot during a campaign speech on Friday, national broadcaster NHK reported.

The conservative lawmaker, who quit abruptly as premier in 2007 after one year in the post, swept back for a rare second stint in 2012 pledging to revive a stagnant economy, loosen the limits of a post-World War Two pacifist constitution and restore traditional values.

He was instrumental in winning the 2020 Olympics for Tokyo, cherishing a wish to preside over the Games and even appeared as Nintendo video game character Mario during the Olympic handover.

Abe became Japan's longest-serving premier in November 2019, but by the summer of 2020, public support had been eroded by his handling of the COVID-19 outbreak as well as a series of scandals including the arrest of his former justice minister. He resigned without presiding over the Games, which were postponed to 2021 due to COVID-19.

He first took office in 2006 as Japan's youngest prime minister since World War Two. After a year plagued by political scandals, voter outrage at lost pension records, and an election drubbing for his ruling party, Abe quit citing ill health.

"What worries me most now is that because of my resigning, the conservative ideals that the Abe administration raised will fade," Abe subsequently wrote in the magazine Bungei Shunju.

"From now on, I want to sacrifice myself as one lawmaker to make true conservatism take root in Japan."

Five years after resigning, which he blamed on the intestinal ailment ulcerative colitis, Abe led his conservative Liberal Democratic Party (LDP) - ousted in 2009 - back to power.

He then launched a three-pronged "Abenomics" strategy to beat persistent deflation and revive economic growth with hyper-easy monetary policy and fiscal spending, along with structural reform to cope with a fast-aging, shrinking population.

Deflation proved stubborn, however, and his growth strategy suffered in 2019 from a sales tax hike and Sino-U.S. trade war. The COVID-19 outbreak the following year triggered Japan's biggest-ever economic slump.

At the outbreak's onset, Abe was slow to close Japan's borders and implement a state of emergency urging people to stay home and shops to close. Critics initially branded the response clumsy and later faulted Abe for a lack of leadership.

Still, Japan's death rate remained far below that of many other developed nations.

DYNASTY

Abe hailed from a wealthy political family that included a foreign minister father and a great-uncle who served as premier. But when it came to many policies, his grandfather, the late prime minister Nobusuke Kishi, seems to have mattered most.

Kishi was a wartime cabinet minister imprisoned but never tried as a war criminal after World War Two. He served as prime minister from 1957 to 1960, resigning due to public furore over a renegotiated U.S.-Japan security pact.

Five years old at the time, Abe famously heard the sound of clashes between police and leftist crowds protesting the pact outside parliament as he played on his grandfather's lap.

Kishi tried unsuccessfully to revise Japan's U.S.-drafted 1947 constitution to become an equal security partner with the United States and adopt a more assertive diplomacy - issues central to Abe's own agenda.

Abe boosted defence spending and reached out to other Asian countries to counter China. He pushed the passage of laws to let Japan exercise the right of "collective self-defence", or militarily aiding an ally under attack.

Revising the pacifist constitution remained a top priority for Abe, a contentious goal since many Japanese see the charter as responsible for the country's post-war record of peace.

Abe's underlying agenda was to escape what he called the post-war regime, a legacy of U.S. occupation that conservatives argue deprived Japan of national pride. Reforming the education system to restore traditional mores was another of his goals.

He also adopted a less apologetic stance towards Japan's World War Two actions, saying future generations should not have to keep apologising for the mistakes of the past.

TOUGH STANCE

First elected to parliament in 1993 after his father's death, Abe rose to national fame by adopting a tough stance toward unpredictable neighbour North Korea in a feud over Japanese citizens kidnapped by Pyongyang decades ago.

Though Abe also sought to improve ties with China and South Korea, where bitter wartime memories run deep, he riled both neighbours in 2013 by visiting Tokyo's Yasukuni Shrine, seen by Beijing and Seoul as a symbol of Japan's past militarism.

In later years, he refrained from visiting in person and instead sent ritual offerings.

© Reuters. FILE PHOTO: Japan's Prime Minister Shinzo Abe stands in front of Japan's national flag after his ruling Liberal Democratic Party's (LDP) annual party convention in Tokyo, Japan, March 5, 2017.  REUTERS/Toru Hanai

Across the Pacific, Abe forged close ties with U.S. President Donald Trump, playing golf and engaging in frequent phone calls and meetings.

He was reelected as LDP president for a third consecutive three-year-term in 2018 after a party rule change and, until the COVID-19 pandemic struck, some in the LDP had considered another rule change to allow him a fourth term.

(Elaine Lies and Linda Sieg; Editing by Christopher Cushing and William Mallard)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.