TOKYO (Reuters) – The successor to Japanese Prime Minister Shinzo Abe, who is resigning because of poor health, faces a daunting list of economic, diplomatic and security issues. FILE PHOTO: A news conference of Japanese Prime Minister Shinzo Abe is broadcasted in Tokyo, Japan, August 28, 2020. REUTERS/Kim Kyung-Hoon Abe’s Liberal Democratic Party (LDP) will choose its next party president on Sept. 14. The winner will serve out Abe’s term as party leader until September 2021 and is all but assured the premiership by virtue of the LDP’s majority in parliament. Below are main issues the new leader will confront. ECONOMY AND CORONAVIRUS Abe’s signature “Abenomics” growth strategy was facing headwinds because of an export slump and a sales tax increase even before the coronavirus outbreak, highlighting the problem of lifting the economy out of decades of stagnation. Critics said Abe’s “third arrow” of structural reforms – the first two were hyper-easy monetary policy and government spending – was not bold enough in the face of a fast-ageing population and a rigid labour market. Japan has not seen an explosive coronavirus outbreak but cases have been rising and the government must balance containing it and restarting the economy. The pandemic… Read full this story
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