Japan Archive

Having returned political stability to Japan, Prime Minister Shinzo Abe today called snap elections for next month to secure a verdict on his already implemented economic policies, dubbed “Abenomics,” as well as a mandate to continue applying his strategies to expand the economy. The general elections, scheduled for mid-December, will come roughly two years after Abe was elected in a sweeping victory in December 2012. His current tenure, Abe’s second as prime minister, has been defined mainly by his efforts to jumpstart Japan’s long-beleaguered economy, focusing on a “three-arrow approach” to restore growth and confidence through increased stimulus, quantitative easing […]

There were signs of easing tensions in some parts of the international system last week, but warnings of deepening crises on other fronts. It emerged that U.S. President Barack Obama had sent a private letter to Iran’s supreme leader, Ayatollah Ali Khamenei, urging greater cooperation in the fight against the so-called Islamic State (IS) in Iraq. China and Japan agreed to step back from confrontation over the Senkaku Islands, claimed by Beijing as the Diaoyu. But Ukraine accused Russia of new military incursions on its territory, increasing the chances that the parlous cease-fire in the east of the country will […]

The Russian ruble hit an all-time low of 48.7 rubles to the dollar earlier today, a casualty of escalating sanctions from the United States and the European Union in response to the conflict in Ukraine. Beyond the sanctions, Russia’s economic outlook is increasingly grim given the recent drop in global oil prices. At the same time, the Moscow Stock Exchange has announced that currency trades between the ruble and the Chinese yuan reached an all-time high in October, increasing 80 percent over the previous month. The increase in currency trading is a direct result of a currency swap deal Russia […]