Shinzo Abe sought to reinvigorate Japan with bold economic policies, strong armed forces - BusinessWorld Online

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Shinzo Abe, Japan’s longest-serving prime minister, who sought to lift the economy out of chronic deflation with his bold “Abenomics” policies, beef up the military and counter China’s growing clout, has died at 67.

July 8, 2022 | 5:06 pm

The lawmaker first became premier in 2006, lasting just a year before returning for a rare second stint in 2012 pledging to revive a stagnant economy, loosen the limits of a post-World War Two pacifist constitution and restore traditional values. But he remained a dominant presence over the ruling Liberal Democratic Party , controlling one of its major factions. He was campaigning for an Upper House election two days later when he was assassinated.Abe first took office in 2006 as Japan’s youngest prime minister since World War Two. After a year plagued by political scandals, voter outrage at lost pension records, and an election drubbing for his ruling party, Abe quit citing ill health.

He then launched a three-pronged “Abenomics” strategy to beat persistent deflation and revive economic growth with hyper-easy monetary policy and fiscal spending, along with structural reform to cope with a fast-aging, shrinking population. Kishi was a wartime cabinet minister imprisoned but never tried as a war criminal after World War Two. He served as prime minister from 1957 to 1960, resigning due to public furore over a renegotiated US-Japan security pact.

 

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