Positive Response to Abenoics

The Liberal Democratic Party, based on the partnership with New Komeito, achieved a landslide victory in the election of Tokyo Metropolitan Assembly on Sunday. It reflected the positive recognition of voters for LDP’s bold economic policy called Abenomics. Opposite parties lagged far behind. This sweeping victory of the leading parties in national politics might indicate the trend of the election of the House of Councillors next month.

Out of 127 seats, LDP occupied 59. With 23 seats for Komeito, LDP secured a stable majority in the assembly. The Democratic Party of Japan, the largest opposite party in national parliament, reduced its seats to 15, equivalent to about one third of former number. The party which worked for an alternative to DPJ was Communist Party, with 17 seats, and Your Party, with 7. Japan Restoration Party could take only 2 seats, as a reflection of the embarrassing gaffe on comfort women by co-leader, Toru Hashimoto.

Away from rural frustration over free-trade policies, Tokyo is the place where the consequence of Abenomics appears early. Followed by optimistic psychology over future economy, houses and cars obviously sell more than last year. Restaurants are clouded with businessmen and housewives. Most voters for LDP were someone who believed this situation was created by PM Abe’s economic policy.

There are definitely voters against Abenomics. They are divided in four, which are the Communists, Your Party, DPJ and Restoration Party. In the last election four years ago, DPJ accepted a great amount of anti-LDP votes, lifting them to the top. This time, the promotion of the Communists was eyebrow raising. In the campaign, they appealed policies opposite to LDP’s, including anti-Abenomics with relevant distribution of wealth, anti-nuclear power generations and protection of current constitution. Your Party also distinguished itself from LDP by upholding postponement of raising consumption tax rate in next April. DPJ failed in making crystal clear difference from LDP.

This tendency may be brought to the Upper House election next month. Although it is likely for LDP-Komeito coalition to take simple majority, the problem is there is no stable counter choice for LDP administration. DPJ needs to recognize the reason why they suffered this great defeat not as the similarity of policies to LDP, but voters’ abhorrence to DPJ. When they see the face of former leaders of DPJ, they reminds of dark memories of trouble with US over the relocation of Futenma in Okinawa, selfish handling of the government in the great earthquake, and broken promise of maintaining the rate of consumption tax. If DPJ cannot show the change, LDP rule may last long.