On Wednesday, less than three weeks after Shinzo Abe's resignation, Japan is all set to get a new prime minister. Yoshihide Suga's confirmation by vote in the National Diet, the country's legislature, will be considered a mere formality. So was his election on Monday as president of the Liberal Democratic Party, Japan's all-powerful ruling party that dominates not just the Diet but politics across the length and breadth of the country.
Mr Suga’s margin of victory over former defence minister Shigeru Ishiba and former foreign minister Fumio Kishida to become the LDP’s head was jaw-dropping, clinching the support of 377 of the 534 officials who were eligible to vote. But it does not necessarily mean that he is his party’s best candidate for the top job. He is simply its safest. The backroom machinations that paved the way for a Suga takeover of the party – and by extension, the premiership of Japan – have also raised eyebrows among the LDP’s rank and file and in the wider electorate. For a country that is struggling to overcome a health and economic crises, Monday’s result could be a consequential one.
To cut a long story short, the LDP's highest permanent decision-making body determined to call a special, closed election to pick the president – rather than throw it open to every card-carrying member of the party, as has been standard practice. Only the 393 Diet members and 141 representatives of the country's 47 provinces (called prefectures) could vote. Mr Abe's abrupt resignation forced this emergency procedure, the council argued, and his successor needed to be picked quickly at a time of great duress for the country and the world.
Japan's former defence minister Shigeru Ishiba is seen as seen as a strong orator with significant political experience. AFP
Japanese Finance Minister Taro Aso became prime minister in 2008 but stepped down after the Liberal Democratic Party suffered a historic defeat the following year. AFP
Defence Minister Taro Kono formerly served as Japan's foreign minister and is a passionate opponent of nuclear power. AFP
Fumio Kishida, also a former foreign minister, currently serves as policy chief in the Liberal Democratic Party. AFP
Japan's Cabinet Secretary Yoshihide Suga is a self-made politician and trusted adviser to Prime Minister Shinzo Abe. AFP / JJiji Press
The LDP establishmentarians’ evident rush to anoint Mr Suga is a testament to his clout in the party. It also speaks to their desire for continuity and stability, given his long years spent in the Abe government. Most crucially, however, it is their fear of Mr Ishiba that forced the council’s hand. Mr Ishiba is a popular politician with considerable intellectual heft and political experience, but he is reviled by the Abe acolytes. He is seen as someone who would not hesitate to rock the boat, beginning by rolling back some of Mr Abe’s policies, and perhaps even investigating the scandals that erupted during his tenure.
While it is hard to say whether the outcome of a normal intra-party election would have been different, the contest itself would have been more even. And given how divergent the leadership styles and priorities of Mr Suga and Mr Ishiba have proved to be over the years, one can safely assume that the result will have direct bearing on how Japan is governed over the next few months, if not years.
This is not to suggest that Mr Suga would perform poorly as Prime Minister.
For a start, his life story and work ethic deserve acknowledgement. The son of a strawberry farmer, he does not belong to a political dynasty, which is seen as a helpful starting point in Japanese politics. A man who begins his day by doing a hundred sit-ups and ends it with another hundred – despite working long hours in between – clearly has the drive, the focus, the grit, and the stamina to rise to the top.
Indeed, aside from his political smarts, these are only some of the qualities, that have made Mr Suga a seasoned career politician, and an able administrator, who was widely regarded as the second-most powerful man in the Abe cabinet for almost a decade.
Shinzo Abe bows after stepping down as Japan's Prime Minister in Tokyo. Reuters
Japan's longest-serving prime minister said Friday he intends to step down because of health problems. AP Photo
It's not the first time Shinzo Abe has left office. He stepped down as Japanese Prime Minister on September 12, 2007 after just a year. EPA
He reassumed office on December 26, 2012. This file photo taken on December 29, 2012 shows Mr Abe greeting workers at the Tokyo Electric Power Company's (TEPCO) emergency operation centre inside the crippled Fukushima Daiichi nuclear power plant in Ota. AFP
This file photo taken on September 17, 2014 shows Japanese Prime Minister Shinzo Abe driving a combine harvester to crop rice plants in the town of Hirono in Fukushima prefecture. AFP
Pope Francis and Shinzo Abe in 2019. AFP
Then-South Korean President Roh Moo-Hyun, right, shaking hands with Japan's Prime Minister Shinzo Abe (L) during their meeting at the presidential Blue House in Seoul in 2006. AFP
With Taro Aso, as deputy PM and finance minister, second left, Mr Abe has instilled "Abenomics" to nourish the country's slowing rate growth with an ageing population. EPA
This file photo taken on October 18, 2017 shows Japan's Prime Minister and ruling Liberal Democratic Party (LDP) president Shinzo Abe (L) greeting his supporters during an election campaign appearance in Saitama. AFP
This file photo taken on September 20, 2018 shows Japan’s Prime Minister Shinzo Abe attending a press conference after winning the ruling liberal Democratic Party’s (LDP) leadership election at the party’s headquarters in Tokyo. AFP
Russian President Vladimir Putin chats with Japanese Prime Minister Shinzo Abe during a visit to the Kodokan judo hall in Tokyo in 2016. AFP
This file photo taken on August 15, 2005 shows Shinzo Abe (C), then-deputy secretary general for Prime Minister Junichiro Koizumi's Liberal Democratic Party (LDP), following a Shinto priest after offering prayers for the country's war dead at Tokyo's controversial Yasukuni Shrine. AFP
This file photo taken on September 17, 2002 shows Japanese Prime Minister Junichiro Koizumi, accompanied by then-Vice Cabinet Secretary Shinzo Abe as he leaves Tokyo International Airport for Pyongyang to meet with then-North Korean leader Kim Jong Il. AFP
This file photo taken on August 15, 2007 shows Japanese Prime Minister Shinzo Abe (R) bowing at the alter as Emperor Akihito (L) and Empress Michiko (C) look on during a memorial ceremony for the national war dead to commemorate the end of World War II. AFP
Japanese Prime Minister Shinzo Abe smiles in 2013. EPA
Japan's Prime Minister Shinzo Abe, second right, wearing protective suit and mask, is briefed about tanks containing radioactive water by Fukushima Daiichi nuclear power plant chief Akira Ono after the nuclear disaster. REUTERS
Japanese Prime Minister Shinzo Abe arrives at a debate with party leaders at Japan National Press Club in Tokyo, Japan, 03 July 2013. EPA
This file photo taken on March 6, 2020 shows Japan's Prime Minister Shinzo Abe gesturing as he attends a upper house plenary session at parliament in Tokyo. AFP
Japan's Prime Minister Shinzo Abe poses with child actors, members of Japanese idol group Momoiro Clover Z at a cherry blossom viewing party at Shinjuku Gyoen park in Tokyo, Japan. REUTERS
Japanese Prime Minister Shinzo Abe pours sake for US President Barack Obama as they have dinner at the Sukiyabashi Jiro sushi restaurant in Tokyo. Reuters
Japan's Prime Minister Shinzo Abe shakes hands with his supporters after an election campaign rally in Fukushima in 2017. Reuters
Japan's Prime Minister Shinzo Abe eats a local grilled fish at the Soma Haragama fishing port in Soma, Fukushima prefecture, December 2, 2014. Reuters
Japanese Prime Minister Shinzo Abe shakes hands with US President Donald Trump during their meeting in the Oval Office on February 10, 2017. Reuters
Japanese Prime Minister Shinzo Abe, left, and President George W Bush, right, attend a joint news conference at Camp David in 2006. AP Photo
Japan's Prime Minister Shinzo Abe reaches out to shake hands with Chinese President Xi Jinping during a welcome ceremony for the Asia-Pacific Economic Cooperation (APEC) Economic Leaders Meeting in Beijing in 2014. AP Photo
Japanese Prime Minister Shinzo Abe appears as the Nintendo game character Super Mario during the closing ceremony at the 2016 Summer Olympics in Rio de Janeiro, Brazil. AP Photo
Mr Suga’s role as chief cabinet secretary was wide-ranging, too. He acted as Mr Abe’s press secretary, advised him on politics as well as policy, co-ordinated policies of his various ministries, and helped the Prime Minister’s Office accumulate an unprecedented amount of power by pushing through bureaucratic reform. It will not be a stretch to say that he largely ran the government from behind the scenes.
Therein, however, lies the problem for Mr Suga. His premiership risks becoming a case of “meet the new boss, same as the old boss”. And until October 2021, when the remainder of Mr Abe's term ends, the new boss will work hard to safeguard the legacy of the old boss – barring any dramas or the likely temptation to call for a snap general election.
Apart from the party’s desire for stability and continuity, there is another reason for Mr Suga to stay the course: if Mr Abe is Japan’s longest-serving prime minister, Mr Suga is the country’s longest-serving chief cabinet secretary. Their record tenures coincided for close to eight years, during which time they worked in tandem.
Together they pursued "Abenomics" that combines fiscal expansion, monetary easing, and structural reform. They expanded Japan’s tourism industry. They also advocated a more assertive and unapologetic Japan, willing to stand up to its neighbours when necessary.
A boy helps to clear dirt in front of his grandparents' house following a heavy rain in Hitoyoshi, Kumamoto prefecture, southern Japan on July 4, 2020. Kyodo News via AP
A stranded woman is rescued following a heavy rain in Hitoyoshi, Kumamoto prefecture, southern Japan. Kyodo News via AP
Workers clean a nursing home following a heavy rain in Ashikita town, Kumamoto prefecture. Kyodo News via AP
Police officers look for stranded people on a flooded street in Hitoyoshi, Kumamoto prefecture. Kyodo News via AP
A man looks at the overflowing Kuma river caused by heavy rain in Yatsushiro, Kumamoto prefecture. AFP
A street is flooded following a heavy rain in Hitoyoshi, Kumamoto prefecture. Kyodo News via AP
A minivan drives through a flooded street in Yatsushiro, Kumamoto prefecture. EPA
Rising water caused by heavy rain is seen at Kuma river in Yatsushiro, Kumamoto prefecture. AFP
Rising water caused by heavy rain is seen at Kuma river in Yatsushiro, Kumamoto prefecture. AFP
Residents are stranded on the rooftop of a house submerged in muddy waters that gushed out from the Kuma River in Hitoyoshi, Kumamoto prefecture. Kyodo News via AP
Rising water caused by a heavy rain is seen along Kuma river in Yatsushiro, Kumamoto prefecture. Reuters
This aerial view shows the site of a mudslide caused by heavy rain in Ashikita town, Kumamoto prefecture. Kyodo News via AP
A bridge over the Kuma River is washed away in Yatsushiro, Kumamoto prefecture. Kyodo News via AP
This aerial view shows the Kuma River swollen by heavy rain in Yatsushiro, Kumamoto prefecture. Kyodo News via AP
Areas are inundated in muddy waters that spilled over from the Kuma River in Hitoyoshi, Kumamoto prefecture. Kyodo News via AP
The potential pitfall is that, at a time when Japan needs fresh thinking, Mr Suga has pledged to pursue these Abe-era policies, some of which have stopped yielding desired results, particularly regarding the economy. The country is struggling to deal with the Covid-19 pandemic and its tourism industry – built around the 2020 Olympics – has been kicked in the shin. Tokyo 2020 itself has been postponed to 2021 and could be cancelled altogether. Meanwhile, the "Cool Japan" strategy used by the government to project the country's soft power has taken a beating, following the government's poor handling of the pandemic.
What the country, then, needs from Mr Suga is inspirational leadership.
Through a combination of force of personality, economic reforms and nationalism, Mr Abe and his administration played an important role in Japan's recovery from the 2011 tsunami and Fukushima Daiichi nuclear plant tragedies. Mr Suga may find out early on that he needs to be similarly consequential, although in his own unique way. It will be a task made tougher by the fact that he is more backroom dealer than mass leader and is more pragmatist than ideologue.
Most importantly, his ability to inspire will depend on the scope of his ambitions and his willingness to step out of his predecessor's shadow. To take the country with him, the new boss will need to show the public that he is not the same as the old boss.
Chitrabhanu Kadalayil is an assistant comment editor at The National
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Learning to Skateboard in a Warzone (If You're a Girl) – 1
Marriage Story – 1
Rocketman – 1
The Neighbors' Window – 1
Toy Story 4 – 1
THE SPECS
Touareg Highline
Engine: 3.0-litre, V6
Transmission: 8-speed automatic
Power: 340hp
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Price: Dh239,312
RESULTS: 2018 WORLD CUP QUALIFYING - EUROPE
Albania 0 Italy 1
Finland 2 Turkey 2
Macedonia 4 Liechtenstein
Iceland 2 Kosovo 0
Israel 0 Spain 1
Moldova 0 Austria 1
Serbia 1 Georgia 0
Ukraine 0 Croatia 2
Wales 0 Ireland 1
Infobox
Western Region Asia Cup Qualifier, Al Amerat, Oman
The two finalists advance to the next stage of qualifying, in Malaysia in August
Results
UAE beat Iran by 10 wickets
Kuwait beat Saudi Arabia by eight wickets
Oman beat Bahrain by nine wickets
Qatar beat Maldives by 106 runs
Monday fixtures
UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain
Anthony Anderson, Black-ish
Don Cheadle, Black Monday
Ted Danson, The Good Place
Michael Douglas, The Kominsky Method
Eugene Levy, Schitt’s Creek
Ramy Youssef, Ramy
LEAD ACTRESS IN A COMEDY SERIES
Christina Applegate, Dead to Me
Rachel Brosnahan, The Marvelous Mrs. Maisel
Linda Cardellini, Dead to Me
Catherine O’Hara, Schitt’s Creek
Issa Rae, Insecure
Tracee Ellis Ross, Black-ish
OUTSTANDING VARIETY/TALK SERIES
The Daily Show with Trevor Noah Full Frontal with Samantha Bee Jimmy Kimmel Live Last Week Tonight with John Oliver The Late Show with Stephen Colbert
LEAD ACTOR IN A DRAMA SERIES
Jason Bateman, Ozark
Sterling K. Brown, This Is Us
Steve Carell, The Morning Show
Brian Cox, Succession
Billy Porter, Pose
Jeremy Strong, Succession
LEAD ACTRESS IN A DRAMA SERIES
Jennifer Aniston, The Morning Show
Olivia Colman, The Crown
Jodie Comer, Killing Eve
Laura Linney, Ozark
Sandra Oh, Killing Eve
Zendaya, Euphoria
OUTSTANDING REALITY/COMPETITION PROGRAM
The Masked Singer
Nailed It!
RuPaul’s Drag Race
Top Chef
The Voice
LEAD ACTOR IN A LIMITED SERIES/TV MOVIE
Jeremy Irons, Watchmen
Hugh Jackman, Bad Education
Paul Mescal, Normal People
Jeremy Pope, Hollywood
Mark Ruffalo, I Know This Much Is True
LEAD ACTRESS IN A LIMITED SERIES/TV MOVIE
Cate Blanchett, Mrs. America
Shira Haas, Unorthodox
Regina King, Watchmen
Octavia Spencer, Self Made
Kerry Washington, Little Fires Everywhere
OUTSTANDING LIMITED SERIES
Little Fires Everywhere
Mrs. America
Unbelievable
Unorthodox
Watchmen
OUTSTANDING COMEDY SERIES
Curb Your Enthusiasm
Dead to Me
The Good Place
Insecure
The Kominsky Method
The Marvelous Mrs. Maisel
Schitt’s Creek
What We Do In The Shadows
OUTSTANDING DRAMA SERIES
Better Call Saul
The Crown
The Handmaid’s Tale
Killing Eve
The Mandalorian
Ozark
Stranger Things
Succession
Julaidah Abdulfatah (Saudi Arabia) beat Martin Kabrhel (Czech Rep) POINTS
Kem Ljungquist (Denmark) beat Mourad Omar (Egypt) TKO
Michael Lawal (UK) beat Tamas Kozma (Hungary) KO
Zuhayr Al Qahtani (Saudi Arabia) beat Mohammed Mahmoud (UK) POINTS
Darren Surtees (UK) beat Kane Baker (UK) KO
Chris Eubank Jr (UK) beat JJ McDonagh (Ireland) TKO
Callum Smith (UK) beat George Groves (UK) KO
Pots for the Asian Qualifiers
Pot 1: Iran, Japan, South Korea, Australia, Qatar, United Arab Emirates, Saudi Arabia, China
Pot 2: Iraq, Uzbekistan, Syria, Oman, Lebanon, Kyrgyz Republic, Vietnam, Jordan
Pot 3: Palestine, India, Bahrain, Thailand, Tajikistan, North Korea, Chinese Taipei, Philippines
Pot 4: Turkmenistan, Myanmar, Hong Kong, Yemen, Afghanistan, Maldives, Kuwait, Malaysia
Pot 5: Indonesia, Singapore, Nepal, Cambodia, Bangladesh, Mongolia, Guam, Macau/Sri Lanka
FTO designations impose immigration restrictions on members of the organisation simply by virtue of their membership and triggers a criminal prohibition on knowingly providing material support or resources to the designated organisation as well as asset freezes.
It is a crime for a person in the United States or subject to the jurisdiction of the United States to knowingly provide “material support or resources” to or receive military-type training from or on behalf of a designated FTO.
Representatives and members of a designated FTO, if they are aliens, are inadmissible to and, in certain circumstances removable from, the United States.
Except as authorised by the Secretary of the Treasury, any US financial institution that becomes aware that it has possession of or control over funds in which an FTO or its agent has an interest must retain possession of or control over the funds and report the funds to the Treasury Department.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available. Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus. Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel. Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
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Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
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Price: From Dh149,900
If you go
The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti withCoastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid When: April 25, 10.45pm kick-off (UAE) Where: Allianz Arena, Munich Live: BeIN Sports HD Second leg: May 1, Santiago Bernabeu, Madrid