Word: ldp
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...hapless administration of Shinzo Abe in September 2007, Fukuda's team has managed to look even more inept and out of touch than Abe's on issues ranging from Japan's faltering economy to the appointment of a new central-bank governor. Initiatives by Fukuda's Liberal Democratic Party (LDP) have been bottled up in parliament by resurgent opposition politicians. Recent polls have put Fukuda's public approval rating at about 25% - lower than Abe's before he resigned after less than a year in office. "When [Fukuda's] approval breaks below 20%, he's really in deep trouble," says...
...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...
...takes time to settle things," says Jun Iio, a professor of government at the National Graduate Institute for Policy Studies. But how long does Japan have? While some might chalk up the gridlock to the nascent stages of an emerging two-party democracy, others blame both the LDP and the DPJ for a lack of concern over issues that have both domestic and global ramifications...
...Parliament's track record so far doesn't seem promising. But if pain is any indication of progress then perhaps the LDP and the DPJ are onto something. Aside from deciding on the next BOJ governor, the issue of Japan's gasoline tax has come up and gone - and will likely come up again if the LDP and Fukuda's government have their way. Since 1974, those who purchase gasoline have paid a 25-yen ($0.25) per liter tax. But the law that enforced the surcharge ended on March 31. The Fukuda government submitted a revision to the tax reform...
...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...