Japan's main opposition Liberal Democratic Party's (LDP) leader and former Prime Minister Shinzo Abe swept to victory in yesterday’s poll for parliament’s lower chamber.
Japan's main opposition Liberal Democratic Party's (LDP) leader and former Prime Minister Shinzo Abe swept to victory in yesterday’s poll for parliament’s lower chamber.

Shinzo Abe, Japan's comeback kid with a conservative agenda



TOKYO // Japan's Shinzo Abe may be thoroughly modern when it comes to pitching his policies on a widely followed Facebook page, but his conservative agenda for shedding the shackles of postwar pacifism is one that he learnt at his grandfather's knee.

The dapper, soft-spoken Mr Abe first took office in 2006 as Japan's youngest prime minister since the Second World War. But he quit suddenly after a year plagued by scandals in his cabinet, public outrage at lost pension records and a big defeat for his Liberal Democratic Party (LDP) in an election for parliament's upper house.

With a hawkish Mr Abe again at the helm, the LDP - ignominiously ousted in 2009 - swept to victory in yesterday's poll for parliament's powerful lower chamber.

NHK television, citing forecasts based on its own exit polls, said the LDP had won 275 to 310 seats in the 480-seat lower house, with the Democratic Party of Japan reduced to a rump of between 55 and 77 seats.

"I have experienced failure as a politician and for that very reason, I am ready to give everything for Japan," Mr Abe wrote in a recent magazine article, referring to his September 2007 resignation, which he blamed on a chronic intestinal ailment.

Mr Abe, 58, hails from a wealthy political family that included a foreign minister father and a great-uncle who served as premier. But when it comes to policies, his grandfather, the late prime minister, Nobusuke Kishi, seems to have mattered most.

"If one lists the many problems Japan faces ... they all stem from one root cause," Mr Abe wrote.

"Haven't we put off problems without clarifying Japan's will to protect the lives and assets of its people and territory with its own hands, and merely accepted the benefits of economic prosperity?" asked Mr Abe, who wants to loosen the limits of Japan's post-Second World War pacifist constitution.

Kishi Nobusuke, a wartime cabinet minister who was jailed but never tried as a war criminal after the Second World War, served as prime minister from 1957 to 1960, when he resigned after a public furore over a renegotiated US-Japan security pact.

Five years old at the time, Mr Abe famously heard the sound of violent clashes between police and leftist crowds protesting against the pact outside parliament as he played on his grandfather's lap.

Mr Kishi tried without success to revise Japan's US-drafted 1947 constitution, become an equal partner with the US and adopt a more assertive diplomacy - all central to Mr Abe's agenda, both in 2006 and today.

Mr Abe often speaks of "escaping the postwar regime", a legacy of the US occupation that conservatives argue deprived Japan of national pride and weakened traditional mores.

"I have not changed my view from five years ago when I was prime minister that the biggest issue for Japan is truly 'escaping the postwar regime'," Mr Abe wrote.

First elected to parliament in 1993 after his father's death, Mr Abe rose to national fame by adopting a tough stance towards North Korea, Japan's unpredictable neighbour.

More recently, he has promised not to yield in a territorial row with China over tiny islands in the East China Sea and boost defence spending to counter Beijing's growing clout.

He also wants to recast Japan's wartime history in less apologetic tones, and in April visited the Yasukuni Shrine, seen in much of Asia as a symbol of Japan's past militarism.

Whether Mr Abe, who is also prescribing radical monetary policy steps to beat deflation, will stick to his ultraconservative agenda once in office is a matter for debate.

Sceptics wonder if pragmatism will trump ideology this time. "He's been two Abes - pragmatic and ideological," said Richard Samuels, director of the Centre for International Studies at the Massachusetts Institute of Technology in Boston. "It's going to be much harder for him to be pragmatic than before. The general public is in a less conciliatory mood than in 2006. Positions have hardened."

Whether Mr Abe has matured enough to become a more competent leader remains to be seen. Critics said his first term was characterised by a cabinet filled with close friends and they worry he may fall into the same trap this time, too.

* With additional reporting by Agence France-Presse

THE 12 BREAKAWAY CLUBS

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
  • If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
  • Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
A MAN FROM MOTIHARI

Author: Abdullah Khan
Publisher: Penguin Random House
Pages: 304
Available: Now