Word: ldp
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Dates: during 2000-2009
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...first time in Japan's parliament, two parties share majority rule between the Upper and Lower houses. The Liberal Democratic Party (LDP), after holding the reins of the Diet for more than five decades, lost the Upper House to the DPJ during last summer's elections. As a result, the last eight months have been a political tug-of-war that has resulted in many disputes. Playing a central role is Fukuda, who has watched his approval ratings plummet in the past few weeks, with some polls showing as low as 24%. (By contrast, former Prime Minister Shinzo...
...stems from elections last summer in which members of the Democratic Party of Japan (DPJ)-the country's main opposition party-won a surprise majority of seats in the Diet's upper house. The results were a sea-change for Japanese politics. For five decades, the Liberal Democratic Party (LDP) had complete control of the Diet and Japan's administration. But while some hailed the DPJ triumph as a much-needed step toward a true two-party democracy in Japan, in reality the power shift has been anything but cathartic. Since he took over as Prime Minister on September...
...little central bank activity, despite the threat of recession, a sliding stock market, and the decline of the dollar to its lowest level against the yen in 13 years. "At this moment the situation is very bad and it will take time to settle a normal relationship between the LDP and the DPJ," says Iio, a professor of government. "The situation is critical for Prime Minister Fukuda...
...same might be said of Japan's parliament, which has been plagued by squabbling between the ruling Liberal Democratic Party of Japan (LDP), which controls the lower house, and the DPJ, whose members won a surprise majority in the upper house in elections last July. With Fukui's departure looming, politicians have been unable to reach agreement on a successor, with some DPJ lawmakers saying they prefer former deputy Central Bank governor Yutaka Yamaguchi. Business leader Mikio Wakatsuki, chairman of AXA Life Insurance of Japan, told reporters this week that it was "a national disgrace that this issue remains unresolved...
...campaign pegged the election as a battle between the old and the new LDP; the party decided that a return to the old faction-driven politics of compromise was what it needed. Whether the old ways can provide solutions to Japan's problems, though, remains to be seen; with Fukuda still unclear on how he intends to solve Japan's domestic economic issues, the LDP has until next spring's general elections to prove it can answer to the country's needs...