Abe May Become Japan’s Longest Serving PM

Japanese Prime Minister Shinzo Abe has a chance to stay in power through the 2020 Tokyo Olympics and become the country’s longest-ruling leader after his party decided this week to allow its presidents to serve a third straight three-year term.

The rule change by Abe’s Liberal Democratic Party could give Abe a better chance to achieve his controversial goal of revising the post-war pacifist constitution, revered by some as a beacon of democracy but seen by many conservatives as a humiliating symbol of Japan’s defeat in World War Two.

Abe took office for a rare second term as prime minister in December 2012, promising to reboot a stale economy and bolster defence. He is now serving a second consecutive term as LDP president, which ends in September 2018.

Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.