TOE Alert: Teflon Abe; the Curse of One-Party Democracy

posted by Richard Katz on March 02, 2016

Found in Japan, categorized in Macro

Tags: Richard Katz TOE Abe Abenomics

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We have been correct in our expectation that Abenomics would fail to deliver on its promises and that it was only a matter of time before the public became disenchanted with it.


Key points: - As we expected, public disenchantment has grown as Abenomics failed to deliver on its promises; in a new Nikkei poll, 50% of respondents said they were dissatisfied - However, we were wrong in our expectation that disenchantment with Abenomics would propel a steady erosion of Abe’s overall approval ratings; over the last year, approval has stabilized at around 40-50%, a high level for a PM with Abe’s tenure - There is growing expectation that Abe will call—and win—a double-election this summer of both Upper and Lower House; Abe will not, however, secure a two-thirds majority in both Houses needed to revise the Constitution

About Richard Katz

Richard Katz

Richard Katz is Editor of The Oriental Economist Report, a monthly newsletter on Japan, as well as the semi-weekly TOE Alert e-mail service on Japan, and is also a special correspondent at Weekly Toyo Keizai, a leading Japanese business weekly.

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