Kenz
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Japanese Prime Minister Fumio Kishida is stepping down in September, a move that sparked a broad range of reactions from government officials and analysts.
By choosing to not run for reelection as leader of Japan's ruling Liberal Democratic Party, Kishida has effectively left the door open for a new prime minister to take the helm of the world's fourth-largest economy.
One expert said the move was reminiscent of U.S. President Joe Biden dropping out of the presidential race less than a month ago.
"To me this is Kishida 'pulling a Joe Biden' and realizing (wisely) he's just not the best face for his party come election time," said William Pesek, author of "Japanization: What the World Can Learn from Japan's Lost Decades."
While Biden withdrew in the wake of a disastrous debate performance, Kishida's tenure was hounded by a scandal embroiling his party as well as an economy prone to deflationary pressure.
By choosing to not run for reelection as leader of Japan's ruling Liberal Democratic Party, Kishida has effectively left the door open for a new prime minister to take the helm of the world's fourth-largest economy.
One expert said the move was reminiscent of U.S. President Joe Biden dropping out of the presidential race less than a month ago.
"To me this is Kishida 'pulling a Joe Biden' and realizing (wisely) he's just not the best face for his party come election time," said William Pesek, author of "Japanization: What the World Can Learn from Japan's Lost Decades."
While Biden withdrew in the wake of a disastrous debate performance, Kishida's tenure was hounded by a scandal embroiling his party as well as an economy prone to deflationary pressure.
