Sanaenomics? Japan’s new PM Takaichi brings hopes of economic revival

Sanaenomics? Japan’s new PM Takaichi brings hopes of economic revival

Japan’s financial markets cheered when parliament voted in hardline conservative Sanae Takaichi as its first female prime minister on Tuesday (Oct 21). The new leader is a long-time advocate of “Abenomics”, the economic policies of former prime minister Shinzo Abe. Expectations for her policies include fiscal expansion and monetary easing. But coalition partner Japan Innovation Party (Ishin) favours deregulation, budget cuts and smaller government. Michael Cucek, an Asian studies professor at Temple University, tells CNA’s Asia Tonight Ishin’s stance could dampen Takaichi’s ambitions.

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