Japan's Prime Minister Kishida to Resign
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Loading... - Jake Randy
- 14 Aug 2024
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Japan's Prime Minister Fumio Kishida announced on Wednesday that he will step down next month, citing a loss of public trust due to political scandals and rising living costs during his three-year term. Kishida, who took office in 2021, made the decision not to seek re-election as the leader of the ruling Liberal Democratic Party (LDP), thereby setting off a race to find his successor.
Kishida's popularity suffered after reports emerged about the LDP's connections to the controversial Unification Church, as well as the revelation of a slush fund involving unrecorded political donations. Additionally, public dissatisfaction grew as wages did not keep up with the increasing cost of living in Japan, which had recently overcome years of deflation.
In a press conference, Kishida stated, "Politics cannot function without public trust," and emphasized that his decision was driven by a desire to push political reform forward. The LDP will hold a leadership contest in September to determine its new president, who will also become the next prime minister.
The incoming leader will face significant challenges, including restoring public confidence in the LDP, addressing the rising cost of living, managing escalating tensions with China, and preparing for the potential implications of the 2024 U.S. presidential election.
