The first female prime minister in Japan’s history and the challenges ahead.
International observers and analysts now view Takaichi as “Japan’s Margaret Thatcher,” questioning whether she will be able to deal with the country’s challenges as the new leader, including economic woes and a shrinking population.
Record-high inflation and a devaluation of the yen are already making life difficult for Japanese families, and the cost of living is rising.
Shortly after his election as leader of the Liberal Democratic Party, the Japanese currency hit an all-time low due to major fiscal stimulus.
CNN reported on Takaichi’s economic policies, calling them “Sanaenomics,” a nod to the “Abe Economics” economic plan championed by his mentor, former Japanese Prime Minister Shinzo Abe.
Kidera, a professor of political science at Meiji University, expressed concern about the proposal, saying: “This type of action could further weaken the yen and raise concerns about Japan’s debt levels, which is also a serious concern for ordinary people who are currently struggling with rising prices.”