Parliament of Japan have elected Shinzo Abe as the prime minister of the country on Wednesday by giving he a second chance after he resigned his post suddenly. Shinzo Abe who is 58 years old is the country’s seventh prime minister in this six years. He resigned his post in 2007.
Liberal Democratic party leader has promise to rise the economy and defend Japanese interests, including disputes with china for a group of islands.Both China and Japan claim the islands in the East China Sea as Asia’s first and second largest economies have been embroiled in a trade dispute over this islands.
As a revenge, Chinese consumer slowed their purchase of Japanese product because of this Tokyo’s exports drops to china by more than 14% that month. Some investors have believe that coming of Abe second time as prime minister will be good for Japan’s equity market.
Head of the Japanese equities Ben Collett at Louis Capital Markets in Hong Kong said “investors are pricing in much greater monetary easing”.
New Prime Minister Abe said that he will try to improve relations with Beijing though he plans to take strong stand with china. ” The economy is at the bottom. It is our first mission to turn it around,” Prime Minister Abe said. New Prime Minister Abe will deal with all communities which is shattered by the earthquake and tsunami.
Mr Shinzo Abe has replace Yoshihiko Noda as New Prime Minister of japan.
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