Japanese Prime Minister Shinzo Abe said he would resign Friday for being fit after a record term, leaving a legacy of an economic stimulus package for singles.
Markets reacted negatively to the expired announcement of the afternoon with a drop of up to 2. 6% in the Nikkei 225 benchmark, before cutting losses to close by 1. 4%. The yen rose 1% against the dollar to 105. 50, according to a Bloomberg report. .
Abe announced his resignation a year before the end of his term and has been fighting ulcerative colitis, an incurable bowel disease, since at least 2007, when he resigned his first term after about a year.
“I felt like I wouldn’t continue my paintings as prime minister,” Abe told NHK, quoted through the media in Tokyo. “I have to fight the disease and I have to be treated. “
The prime minister took office in 2012, promising to revive Japan’s economic expansion with Abenomics. GDP had stagnated in the 1990s and its plan called for more spending, a greater source of cash, and reforms to make the economy more competitive.
Abe sought strong ties with the United States, the first leader of a primary country to meet with Donald Trump after his election as president of the United States in 2016.
Stronger relations with China, despite chronic acrimony over World War II disorders and fashionable territorial conflicts, will also highlight the legacy of the “conservative nationalist” Prime Minister, said Stephen Nagy, senior associate professor of foreign politics and studies at Tokyo International. Christian University.
However, Japanese citizens have criticized Abe this year because of the impression that he is allowing the number of Covid-19 cases in the country to increase too much, Nagy says. Japan reported some 65,000 cases and more than 1,200 deaths in two. waves, one in April and the other this month.
“You have a national point and a foreign point, so it’s hard to say that everything is smart or bad,” Nagy said, assessing Abe’s reputation.
Staying in effect would pit Abe on the ghost of the cancellation of the Summer Olympics at a time in covid-19, said Nagy, who was delayed by a year from July to August 2020 due to the epidemic.
Japan’s relations with the United States face “potential changes” after the U. S. presidential election in November, Nagy added. Abe and U. S. President Donald Trump are close. They resisted North Korea together and shared concepts on other problems in Asia, according to the Center. for strategic think tank
Abe said he will remain aboard until his Liberal Democratic Party chooses a new minister, Kyodo News, based in Tokyo, reported.
As a journalist, I’ve covered everything since 1988, since my alma mater U. C. Berkeley at the Great People’s Hall in Beijing, where I followed the Communists.
As a journalist, I’ve covered some of everything since 1988, from my alma mater UCBerkeley at Great People’s Hall in Beijing, where I followed the communist leaders of Japanese news firm Kyodo. Working in Taipei since 2006, I follow Taiwanese companies Local Economic Trends that resonate on the high seas. At Reuters until 2010, I tried sensitive island dating with China. More recently, I have studied high-tech trends in Greater China and extended my news policy around Asia.