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Japan votes: Abenomics the winner?

Friday, October 20, 2017 - 01:49

Japanese Prime Minister Shinzo Abe's ruling coalition is on track for a big win in Sunday's general election - and 94 per cent of companies want it to stay in power, according to a Reuters poll - even though almost half the country's voters don't want Abe to keep his job, a media survey showed. Laura Frykberg reports.

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Nanmoku village is a record holder in Japan. The average age of its residents - is just over 70 - making it the oldest municipality in the country. Age though - hasn't slowed down people's political activity. Voter turn out here is about 90 percent. (SOUNDBITE) (Japanese) 73 YEAR OLD NANMOKU VILLAGE RESIDENT, CHIKARA IMAI, SAYING: "When there's only a few people, children tend to be politically curious when their parents are, and that spreads, creating a community." Across the country - those communities - appear to support the party of Prime Minister Shinzo Abe. Japanese media reporting his Liberal Democratic Party is set to win up to 303 seats in the lower house in Sunday's snap election. Allowing the ruling bloc to maintain the two-third's "super majority". (SOUNDBITE) (Japanese) JAPANESE PRIME MINISTER, SHINZO ABE, SAYING: "This election is to decide Japan's future." One which companies want controlled by a safe pair of hands too. A Reuters poll has found Japanese firms overwhelmingly want Abe to retain power, but around two-thirds want his party to lose seats. Fearing the leader may get complacent over the economy and his implementation of Abenomics. (SOUNDBITE) (English) CHIEF ECONOMIC ADVISER, CEBR, VICKY PRYCE, SAYING: "The question of course is what happens next. Monetary policy is still very accommodating, but its increasing the whole sort of slow growth that we've seen over the last few years has really meant very high government debt in Japan." Suggesting that the Bank of Japan's tactic of printing money to revive the economy may not continue to work. While for a ninth straight month in a row core consumer prices are expected to rise. They're still short of achieving the 2 percent inflation target.

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Japan votes: Abenomics the winner?

Friday, October 20, 2017 - 01:49