Takaichi also said the country's defense policy would be revised, which would increase Japan's offensive military capabilities. It would also lift restrictions on arms exports. The move would move Japan away from the pacifist ideals envisioned in its constitution after World War II.
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In Japan, Prime Minister Sane Takaichi's Liberal Democratic Party (LDP) has won two-thirds of the vote. The LDP won 316 of the 465 seats in Sunday's election.
This is the first time since 1947 that any party has won a majority in Japan's lower house. Similarly, the Japan Innovation Party, which is in an alliance with the LDP, has won 36 constituencies. With this, the ruling coalition has won a total of 352 seats.
Takaichi now faces the challenge of strengthening Japan's economy. As soon as the parliament session begins in mid-February, he will have to work on the budget bill.
Bringing a budget that solves the problems caused by low income and rising prices is the main challenge for his government. She has also said that the security policy will be revised. Which will increase Japan's aggressive military capability. Similarly, the ban on arms exports will be lifted. This step will move Japan away from the pacifist values envisioned by the constitution after World War II.
Experts have expressed concern that policies such as tightening restrictions on foreigners and controlling their activities will undermine people's rights. Takaichi is also saying that she will increase defense spending. US President Donald Trump is pressuring Japan to spend more on security.
New record in stock trading
A new record in stock trading in Japan has been set after Takaichi's victory. The Nikkei 225 index rose more than 5% in early trading on Monday. It crossed the 57,000 mark for the first time.
The country is expected to stabilize and business will accelerate. Takaichi has been saying that she will pursue responsible and aggressive fiscal policy. Similarly, she has said that she will not reshuffle the cabinet formed four months ago.
Investment analyst Yuka Marosek said that Takaichi's policies could boost the Japanese economy.
Takaichi said that she would cut taxes. This would provide relief to Japanese people who are paying high prices for housing and daily necessities. She has promised to raise additional spending to boost the Japanese economy. However, she has not explained where this money will come from.
Japan is already heavily indebted. Analysts are warning that taking on more debt will destabilize an already weak economy.
