Japan - August 14, 2024

Japanese Prime Minister Fumio Kishida's announcement that he will not run in the presidential election of the ruling Liberal Democratic Party (LDP) in September reflects a deep trust crisis, said a Japanese political and economic critic on Wednesday.

Kishida, who has been battling political scandal, would end a three-year term as prime minister after the party elects a new leader in September.

Support for Kishida has been in decline for months amid voter frustration over the party slush fund scandal.

Several major factions of the LDP were suspected of paying kickbacks to member lawmakers who sold fund-raising party tickets above their quota, without recording the amount as revenue in their political fund reports.

Kishida has removed several Cabinet ministers and others from party executive posts, dissolved party factions that were criticized as the source of money-for-favor politics, and tightened political funds control law.

Despite his efforts, he has still failed to regain voters' trust in the ruling party.

Shigeaki Koga, a former official of Japan's Ministry of Economy, Trade and Industry and also a political and economic critic, said that no matter what policies the LDP adopts, they will always be suspected of serving their own interests after the slush fund scandal.

In terms of economy, although Kishida claimed to have ended three decades of deflation, the Japanese yen has historically depreciated against the U.S. dollar and the euro during his tenure.

In addition, the rising prices, the negative growth of people's real wages and other prominent livelihood issues have also become one of the reasons for the continued low support rate of the Kishida cabinet.

Much attention is being paid to the candidates for the upcoming LDP presidential election, but Koga pointed out that it may not be possible to reach the expectation of reform by simply changing the president.

Shotlist:
Tokyo, Japan - Aug 14, 2024:
1. Various of headquarters of Liberal Democratic Party (LDP);
2. SOUNDBITE (Japanese) Shigeaki Koga, Japanese political and economic critic (starting with shot 1):
"The main problem is the slush fund scandal. There is so much skepticism [about the political circles] that whatever policies the LDP adopts is suspected of serving its own interests. So there are few policies that can boost the support for the cabinet.";
3. Various of headquarters of LDP, crossroad;
4. SOUNDBITE (Japanese) Shigeaki Koga, Japanese political and economic critic (partially overlaid with shot 5):
"Due to rising prices and negative growth in real wages over the past two years, although there was a slight increase in the recent month, people find life very difficult. Under such circumstances, politicians' reckless use of slush funds to evade taxes and engage in wrongdoing has greatly increased public distrust and dissatisfaction.";
[SHOT OVERLAYING SOUNDBITE]
5. Various of crossroad;
[SHOT OVERLAYING SOUNDBITE]
6. Various of headquarters of LDP;
7. Information board of LDP;
8. SOUNDBITE (Japanese) Shigeaki Koga, Japanese political and economic critic:
"Both the LDP and the opposition parties will make promises to improve people's lives and raise wages. But the root of the problem is deep, and it cannot be easily solved by just talking about it.";
9. Various of pedestrians;
10. Buildings.

[Restriction - No access Chinese mainland]