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 @ISIDEWITHNewsDaily DiscussionElectionInflationPresidential ElectionJapanGovernmentCentral BankFumio Kishida•••2yrs ago

Japan Set for a New Leader as Premier Kishida Steps Aside

Japanese Prime Minister Fumio Kishida won’t run for a second term as leader of the long-ruling Liberal Democratic Party in September, opening the way for a race to succeed him as premier.

“I will devote myself to supporting the new leader selected through the presidential election as a foot soldier,” Kishida said at a nationally broadcast news conference on Wednesday.

Support for Kishida has been in decline for months amid voter frustration over his handling of a wide-ranging party slush-fund scandal, ongoing inflation and a slump of the yen. Kishida, who took office nearly three years ago, said the series of political finance scandals has eroded trust and weighed on his decision.

Kishida’s government and the central bank have sought to show a united front and restore calm to financial markets, after the biggest stocks plunge in more than three decades this month triggered criticism of monetary policy tightening and cast a shadow over efforts to get households to invest their assets.

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5 Replies

 @CivilLibertiesDukeLibertarian from Colorado  commented…2yrs2Y

the carry trade did it

 @B1ll0fRightsGregGreenfrom Pennsylvania  commented…2yrs2Y

His resignation ignites a contest for new leadership to address rising living costs, geopolitical tensions, and fiscal policies

 @LeftLaneBobDemocrat from Texas  commented…2yrs2Y

He served almost three years. Eighth longest serving prime minister in the post war era.

 @ISIDEWITHasked…2yrs2Y

If you were a citizen of Japan, what qualities would you look for in the next leader to ensure improvements?

 @ISIDEWITHasked…2yrs2Y

Do you believe a change in leadership can significantly impact a country's economic situation and international standing?

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 @ISIDEWITH submitted…1yr1Y

Biden bans new offshore oil drilling along most of US coastline

President Joe Biden announced a ban on new offshore oil and gas drilling along most of the US coastline on Monday in a move designed to bolster his environmental and climate legacy as he prepares to leave office.The order will protect 625mn acres of ocean on the US east coast, the eastern Gulf of Mexico, the Pacific coasts of Washington, Oregon and California, as well as portions of the Northern Bering Sea in Alaska, the White House said on Monday.“My decision reflects what the coastal communities, business and beachgoers have known for a long time: that drilling off these coasts could cause irreversible damage to places we hold dear and is unnecessary to meet our nation’s energy needs,” Biden said.The executive action will not prevent oil and gas companies obtaining leases in the central and western parts of the Gulf of Mexico, areas that produce almost 15 per cent of the nation’s oil supplies. Nevertheless, the move is expected to complicate the policy agenda of incoming president Donald Trump, who has vowed to “drill, baby, drill” and boost US oil production, even though it is already at a record level.The Trump transition team said it was a disgraceful decision designed to exact “political revenge on the American people” and the incoming president said he would immediately “unban” Biden’s prohibition on new offshore drilling.“I have the right to unban it immediately . . . we can’t let that happen to our country. It’s our greatest, it’s really our greatest economic asset,” Trump told conservative radio host Hugh Hewitt in an interview on Monday.Biden’s action will probably be challenged by the oil industry in court and face pushback from Republicans in Congress. But overturning the order could prove challenging and may require an act of Congress, according to legal experts.Biden is using his authority under the Outer Continental Shelf Lands Act, to protect the areas from drilling — the same mechanism which former president Barack Obama used previously to ban offshore drilling in some Arctic and Atlantic waters in 2016.In 2019, a federal judge ruled that an executive order by former president Donald Trump that lifted an Obama-era ban on oil and gas drilling in the Arctic Ocean was unlawful.

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 @ISIDEWITH submitted…2yrs2Y

Michigan Showdown: Rashida Tlaib Snubs Kamala Harris as Gaza Crisis Roils Arab American Voters

Michigan Rep. Rashida Tlaib, who spoke at a United Auto Workers rally in Detroit Friday night, declined to endorse Kamala Harris just four days out from Election Day, according to The Detroit News.The Democratic lawmaker encouraged union members to vote but kept her speech focused on down-ballot races. Tlaib, who is Palestinian American, is the only member of the Squad to withhold her support for Harris and has been vocal in her criticism of the Biden administration’s Israel policy.The war in Gaza has remained a top issue in battleground Michigan, where more than 100,000 voters cast their ballots for “uncommitted” in the state’s primary earlier this year, spurring concerns about the Democratic presidential candidate’s chances in the state. Harris has continued to face protests on the trail, as demonstrators call for her to break with President Joe Biden and support an arms embargo on Israel.The Uncommitted National Movement, confounded by Layla Elabed, Tlaib’s sister, announced in September that it wouldn’t endorse Harris while saying it opposed Donald Trump.Harris has been endorsed by several other leaders in the Arab American and Muslim community, and aides have met privately with leaders across battleground states in recent months. The vice president met briefly with a group of Arab American and Muslim leaders last month in Flint, Michigan, to discuss their concerns about Gaza and civilian casualties in Lebanon.

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