Japanese voters will decide the fate of Prime Minister Shigeru Ishiba’s government today. His coalition is in jeopardy in this election. There is said to be anger over Ishiba’s government’s financing scams and rising inflation, which could end the decade-long dominance of his Liberal Democratic Party (LDP).
Opinion polls suggest the Liberal Democratic Party and its long-time ally Komeito may face defeat, with the alliance likely to lose its parliamentary majority. Today, Japan is struggling with rising inflation and growing tensions with neighboring China.
If the polls are correct, losing the majority would force Ishiba into power-sharing talks with the smaller party that came to power a month ago. Although no surveys predict the LDP will fall from power, this will create uncertainty in some policy areas.
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Challenges facing Japan will increase
The political outcome could cause market turmoil, which could become a headache for the Bank of Japan. Japan’s problems could worsen if Ishiba chooses a partner that supports keeping interest rates near zero as the central bank raises rates.
“His (Ishiba) position as a leader will be significantly weakened, and his party will be weakened on the policies it particularly wants to focus on,” said Jeffrey Hall, an expert on Japanese politics at Kanda University of International Studies. Partner, they’re going to have to make some compromises with that party, whichever it is. ”
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What is the investigation called?
Surveys show that the Liberal Democratic Party may lose 50 of the 247 seats in the House of Representatives, and the Komeito party may drop below 30 seats. The coalition is expected to get fewer than the 233 seats needed for a majority. Polls show that the Liberal Democratic Party will remain the largest force in parliament, but may lose to the second-ranked opposition party the Cadets in the second parliament. The party ousted the Liberal Democratic Party from power in 2009. China Democracy Party is expected to win 140 seats.
