Japanese Prime Minister Junichiro Koizumi's stunning triumph in parliamentary polls handed the leader a new mandate yesterday to harness his revitalized ruling party and turn promises into action for a range of sweeping economic reforms.
His landslide victory on Sunday boosted his Liberal Democratic Party's (LDP's) standing in the lawmaking lower house by nearly a fifth and gave ruling lawmakers a two-thirds majority -- along with a coalition partner -- to override votes in a still-hostile upper house.
The LDP's final tally stood at 296 seats in the lower house, public broadcaster NHK reported, well above the 241 seats needed for a majority and the 249 seats it held when Koizumi dissolved the chamber last month. Optimism about the results sent Tokyo's benchmark Nikkei stock index surging 1.8 percent to 12,915.53 points in early trading.
Koizumi, who plans step down in September next year, quickly came under pressure to use his new strength to deliver -- not just on his cherished plans to privatize the nation's postal savings and insurance system but on issues ranging from pension reform to diplomatic relations.
"If his policies and the party's stature betray the people's expectations, there will someday be a backlash," the Asahi newspaper said in a front page analysis. "As soon as possible, he has to say what he will do after postal reform, and show concrete programs."
The LDP victory delayed any notion that Japan was entering an era of two-party politics following impressive recent gains by the opposition Democratic Party. The Democrats took a disheartening plunge on Sunday to 113 seats, from 175. Party leader Katsuya Okada announced early yesterday that he would step down as party head to take responsibility for the defeat.
The Democrats plan to elect a new president on Saturday, party officials said.
The LDP victory will test Koizumi's ability to transform the party's once-moribund, pork-barrel politics into a streamlined force for dynamic reform and small government.
"The ranks of the LDP's old guard have declined, and the party now has more young members, as well as more women. But its actions going forward will determine whether the party has truly changed," the Nihon Keizai said in an editorial yesterday.
Taiwan is projected to lose a working-age population of about 6.67 million people in two waves of retirement in the coming years, as the nation confronts accelerating demographic decline and a shortage of younger workers to take their place, the Ministry of the Interior said. Taiwan experienced its largest baby boom between 1958 and 1966, when the population grew by 3.78 million, followed by a second surge of 2.89 million between 1976 and 1982, ministry data showed. In 2023, the first of those baby boom generations — those born in the late 1950s and early 1960s — began to enter retirement, triggering
ECONOMIC BOOST: Should the more than 23 million people eligible for the NT$10,000 handouts spend them the same way as in 2023, GDP could rise 0.5 percent, an official said Universal cash handouts of NT$10,000 (US$330) are to be disbursed late next month at the earliest — including to permanent residents and foreign residents married to Taiwanese — pending legislative approval, the Ministry of Finance said yesterday. The Executive Yuan yesterday approved the Special Act for Strengthening Economic, Social and National Security Resilience in Response to International Circumstances (因應國際情勢強化經濟社會及民生國安韌性特別條例). The NT$550 billion special budget includes NT$236 billion for the cash handouts, plus an additional NT$20 billion set aside as reserve funds, expected to be used to support industries. Handouts might begin one month after the bill is promulgated and would be completed within
The National Development Council (NDC) yesterday unveiled details of new regulations that ease restrictions on foreigners working or living in Taiwan, as part of a bid to attract skilled workers from abroad. The regulations, which could go into effect in the first quarter of next year, stem from amendments to the Act for the Recruitment and Employment of Foreign Professionals (外國專業人才延攬及僱用法) passed by lawmakers on Aug. 29. Students categorized as “overseas compatriots” would be allowed to stay and work in Taiwan in the two years after their graduation without obtaining additional permits, doing away with the evaluation process that is currently required,
IMPORTANT BACKER: China seeks to expel US influence from the Indo-Pacific region and supplant Washington as the global leader, MAC Minister Chiu Chui-cheng said China is preparing for war to seize Taiwan, Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said in Washington on Friday, warning that Taiwan’s fall would trigger a regional “domino effect” endangering US security. In a speech titled “Maintaining the Peaceful and Stable Status Quo Across the Taiwan Strait is in Line with the Shared Interests of Taiwan and the United States,” Chiu said Taiwan’s strategic importance is “closely tied” to US interests. Geopolitically, Taiwan sits in a “core position” in the first island chain — an arc stretching from Japan, through Taiwan and the Philippines, to Borneo, which is shared by
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