Shinzo Abe’s Landslide Victory Could Be A Turning Point For Japan

Shinzo Abe’s Liberal Democratic Party (LDP) won 65 out of 121 contested seats in Japan’s upper house yesterday, giving Japan its first strong ruling party after six years of political deadlock. This election gives the LDP control over both houses of government, nearly enough power to amend the constitution, and a mandate to enact far-reaching reforms. Abenomics given the people’s seal of approval One of the first decisions that Shinzo Abe will need to face is whether or not to increase the consumption tax meant to address Japan’s massive government debt. The tax is currently slated to rise incrementally from…