Japan's new prime minister will pursue economic structural reforms through a mixed bag of policies that target specific industries, rather than a grand strategy to reshape society and boost long-term growth.
TOKYO - Japan’s new prime minister will pursue economic structural reforms through a mixed bag of policies that target specific industries, rather than a grand strategy to reshape society and boost long-term growth.
“He isn’t after visions. He’s someone who wants to accomplish small goals one by one,” said political analyst Atsuo Ito, a former ruling party staff. “He’ll initially focus on pragmatic goals that directly affect people’s livelihood.” Suga must act quickly as his current term lasts for only for a year unless he calls a snap election to win the public’s mandate to run a full, three-year term.
“Introducing competition among mobile phone carriers could be a very symbolic policy for Suga because he loves competition,” said Takenaka, who retains close contact with Suga. “He hates people with vested interests.” Some government officials say Suga’s focus on deregulation makes his policies closer to those of Koizumi, who consolidated big banks and deregulated the labour market in the early 2000s.
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