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Japan gears up for ‘wild west’ leadership race

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Japan gears up for ‘wild west’ leadership race

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A record number of candidates are vying to become Japan’s next prime minister, as the country confronts rising prices, escalating tensions in the Pacific and uncertainties surrounding a possible second Donald Trump presidency in the US.

The contest for the leadership of the Liberal Democratic party — which has ruled Japan for all but a few years of the postwar period — followed incumbent Fumio Kishida’s decision last month to resign after three years as he battled low approval ratings and public dismay over the state of the economy.

The unusually wide-open race kicks off on Thursday with an unprecedented nine candidates and could crown Japan’s youngest-ever prime minister or its first female leader when it concludes on September 27.

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The size of the field attests to upheaval within the ruling bloc, analysts said, as the LDP searches for a standard-bearer who can plausibly lead the party into a general election that must be called by the end of October 2025.

“This first round will be the wild west. There are candidates that are running who know they don’t have a shot,” said Tobias Harris, the founder of political risk advisory firm Japan Foresight. “It is also an election where people who have the strongest CVs do not necessarily advance.”

The candidates include the arch-conservative former economic security minister Sanae Takaichi who has cited Margaret Thatcher as a role model; former foreign minister Toshimitsu Motegi who has been dubbed “Japan’s Trump whisperer”; outspoken former defence and foreign minister Taro Kono, who began his current stint as digital minister by declaring a war on floppy discs; and Yoko Kamikawa, the current foreign minister who ordered 16 executions during her time as justice minister.

The early favourites, according to political analysts and media polls, are former defence minister Shigeru Ishiba and Shinjiro Koizumi, the 43-year-old son of one of Japan’s most charismatic but controversial leaders, Junichiro Koizumi, who pushed Post Office privatisation and other reforms in the early 2000s.

Sanae Takaichi, Japan’s economic security minister © Toru Hanai/Bloomberg

The frontrunners face significant resistance: Koizumi because of his inexperience, and Ishiba from political enemies he has accumulated over his long career and repeated attempts to secure the LDP leadership. Senior party figures said Koizumi’s youth could also prove an advantage, as the LDP’s elite saw greater opportunity to influence his administration.

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Whoever succeeds Kishida will face a vexing economic backdrop. While Japan is exiting decades of low growth and deflation, price rises combined with a weaker yen have weighed on household finances, while the Bank of Japan’s introductory interest rates rises last month spurred a bout of extreme market volatility.

Tokyo has also taken on a more assertive security role in the Pacific, raising defence spending and deepening co-operation with the US and other regional allies such as South Korea in the face of more hostile Chinese conduct — tensions that could be further inflamed during a second Trump term.

The leadership contest will initially be decided by a combination of LDP parliamentarians and about 1mn rank-and-file party members. If no clear winner emerges, a second round of voting, only by MPs, will choose between the two leading candidates.

At the core of the race is public exhaustion after 12 years of LDP politics, including disappointment with the “Abenomics” reforms of the country’s longest-serving prime minister, Shinzo Abe, according to analysts.

While polls suggest that Japan’s main opposition party, the Constitutional Democratic Party of Japan, poses little electoral threat, people close to the LDP leadership said it was looking for a figure to reinvigorate the party as a force of energy and renewal. “Is there someone in the field who can make people forget their exhaustion with this government?” said Harris of the LDP’s thinking.

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The contests will also be particularly unpredictable, political analysts said, because the party’s traditional selection mechanisms — factions controlled by influential supremos — are disintegrating in the wake of a political funding scandal.

The factions were officially disbanded under Kishida in an attempt to publicly atone for revelations of large slush funds. But in doing so the LDP eliminated an organisational force that previously winnowed the field of aspirants.

Without factions marshalling votes, ambitious candidates have been freer than at any time in the past to canvass for parliament members’ endorsements.

“The iron control of the factions is no longer there and so people within the party see this as their big chance,” said Jeff Kingston, a political scientist at Temple University. “Right now in the LDP, if you have ambitions and think you’ve earned it, you throw your hat in the ring.”

Yu Uchiyama, a political scientist at the University of Tokyo, noted that apart from divisions on issues such as the budget deficit or gender equality, none of the leading candidates had put forward a distinctive agenda or ideology, with a narrow range of positions on foreign policy and regional security.

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Uchiyama added that the weakened factions were likely to be a temporary phenomenon. He predicted that a second round of voting by MPs would see clusters forming that resembled the old factions.

“Lots of times when the LDP declared the factions were gone, they revived,” said Uchiyama.

Others see the contest as a sign of malaise in Japanese politics as a result of the LDP’s dominant hold on the political landscape. 

“As always, the LDP leadership contest is a scam,” said Koichi Nakano, a political scientist and affiliate at the Weatherhead Center for International Affairs at Harvard University. “It is a pretence that Japan gets its leaders through a democratic process, but the reality is that leaders are chosen for the country through a very narrow and tightly controlled system.”

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Boris Johnson Has Run-In With Feisty Ostrich During Texas Trip

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Boris Johnson Has Run-In With Feisty Ostrich During Texas Trip

Boris Johnson, the former British prime minister, was cruising slowly through what appeared to be a wildlife park when, without warning, the ostrich stuck its head through the open driver’s side window to give Mr. Johnson a feisty peck.

“Ow!” Mr. Johnson can be heard shouting, as his toddler giggles with amusement.

The incident was shared on Sunday in a video posted to Instagram by Mr. Johnson’s wife, Carrie Johnson, accompanied by the caption, “Too funny not to share 😂.”

In the clip, after Mr. Johnson yelps, he seems to express some profanities (though they are somewhat inaudible). He then grabs the steering wheel and drives away. The toddler hanging from Mr. Johnson’s arm keeps giggling.

It was not immediately clear on Monday when or where exactly the video had been taken, though social media posts by Ms. Johnson and local sightings show the family on vacation in Texas.

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Other videos posted to Ms. Johnson’s account that appear to be from the same location show the family looking at deer and an aoudad, a goat-like animal. Another recent post from Ms. Johnson showed the family at Dinosaur Valley State Park, near Glen Rose, Texas.

Mr. Johnson was in Texas less than two years ago to lobby for Republican support for Ukraine.

It is not the first time Mr. Johnson, who served as prime minister from 2019 until 2022, has been at the center of slapstick public mishaps that align with his colorful and oftentimes chaotic tenure as Britain’s leader.

In February 2021, Mr. Johnson struggled to put a latex glove on his hand at a vaccination center in Wales. It’s “like O.J. Simpson,” Mr. Johnson quipped, referring to the 1995 murder trial in which a glove, which was a key piece of evidence, did not fit Mr. Simpson.

In July of that year, Mr. Johnson struggled to control his umbrella at a police memorial unveiling in central England.

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Representatives for Mr. Johnson’s family could not immediately be reached on Monday for comment regarding the incident. Several wildlife parks in the area also did not immediately respond to requests for information about whether the Johnson family had visited them.

Stumpy’s Lakeside Grill, a restaurant in Granbury, Texas, posted a photo of Mr. Johnson to social media on Saturday, noting that he had dined there.

“We are so honored to have him as our guest!!” the restaurant said.

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Billionaire financiers lambast Donald Trump’s tariffs

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Billionaire financiers lambast Donald Trump’s tariffs

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Ken Langone, the co-founder of Home Depot and longtime Republican donor, has lambasted Donald Trump’s wide-ranging tariffs for being set too high and implemented too quickly.

Langone told the Financial Times the US president was being “poorly advised”, the 46 per cent tariff on Vietnam was “bullshit” and the additional 34 per cent tariff on China was “too aggressive, too soon” and did not give “serious negotiations a chance to work”.

“Forty-six per cent on Vietnam? Come on!” said Langone. “You might as well tell them, ‘Don’t even bother calling’.”

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Langone is one of a growing number of billionaire financiers openly criticising the president’s decision to increase tariffs on imports to heights not seen since the 1930s as they grow increasingly alarmed at the resulting market meltdown.

The tariffs — a universal 10 per cent duty plus additional individual levies for many countries — have sent global markets into a tailspin. Over the past week, the S&P 500 has fallen almost 10 per cent.

Billionaire investor Stanley Druckenmiller, a mentor to Treasury secretary Scott Bessent, has also weighed in, posting on X on Sunday: “I do not support tariffs exceeding 10%.”

President Donald Trump announces the tariffs imposed on US trade partners in the White House Rose Garden last week © Carlos Barria/Reuters

So too did billionaire donor Bill Ackman, a supporter of Trump in the 2024 presidential campaign, who described the tariffs as “a major policy error”.

Jim Rogers, who co-founded the Quantum Fund with George Soros, wrote in an email to the FT that while “tariffs have occasionally helped a few people for fairly short periods”, they “are rarely good for anyone”.

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Tesla and Starlink owner Elon Musk, Trump’s biggest donor, has also hit out at the tariffs. On Saturday, Musk called for “a zero-tariff situation” between the US and Europe and remarked that Peter Navarro, Trump’s senior adviser on trade, “ain’t built shit”.

In his annual letter to shareholders on Monday, JPMorgan Chase chief executive Jamie Dimon also criticised the measures, warning that the tariffs “will probably increase inflation and are causing many to consider a greater probability of a recession”.

“The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse,” he added.

Wilbur Ross, Trump’s commerce secretary during his first term, has also weighed in, warning that the tariffs had had an unexpected impact.

Wilbur Ross
Wilbur Ross, who was previously commerce secretary under Trump, says he has ‘doubts about the logic of the formula to compute the tariffs’ © Saul Loeb/AFP/Getty Images

“It’s more severe than I would have expected,” Ross told the FT. “Particularly the way it is impacting Vietnam, China and Cambodia is more extreme than I would have thought.”

Ross added that businesses and investment firms could deal with good news and bad news but warned: “It’s hard to deal with uncertainty. Fear of the unknown is the worst for people and we are in a period of extreme fear of the unknown.”

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Langone said a “more manageable and certainly more constructive” approach would have been to impose a 10 per cent across-the-board tariff on imported goods, followed by bilateral negotiations with countries.

“I don’t understand the goddamn formula,” said Langone. “I believe he’s been poorly advised by his advisers about this trade situation — and the formula they’re applying.”

Ross, who refrained from directly criticising Trump, agreed there were problems with the way the tariffs had been calculated. “I also have some doubts about the logic of the formula to compute the tariffs. It’s a fairly unconventional way of measuring tariffs.”

He added: “I think that the countries most adversely affected hopefully will come forward and therefore quickly make a deal.”

Langone said that while he agreed with a number of measures carried out by the Trump administration, “I have a different read on when I do it, how I do it. I wouldn’t take on everything all at once”.

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He expected Trump would “eventually” engage in a series of bilateral meetings.

“I think it’ll work,” Langone said. “Right now, what everybody’s terrified of is a tariff war.”

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‘Brace for impact’: Chinese economist warns the gloves are off in US trade war

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‘Brace for impact’: Chinese economist warns the gloves are off in US trade war

With its forceful response to US President Donald Trump’s new tariffs, China has abandoned courtesy, leaving the chances of reconciliation slim as ties between the world’s two largest economies grow increasingly fraught, according to a prominent economist.

“Initially, China opted to maintain some courtesy to avoid too much escalation when Trump [first] hiked tariffs,” said Mao Zhenhua, an economics professor with the University of Hong Kong and co-director of Renmin University’s Institute of Economic Research.

Trump had announced increases of 10 per cent and later 20 per cent on Chinese goods after taking office in January. Last week, as part of a sweeping package of import duties on nearly every US trade partner, the president levied an additional 34 per cent.

“But [the new tariff] is boundary-testing, so Beijing had to respond differently and harshly. China’s response has also evolved, having realised that the measured approach does not work,” Mao said, calling Beijing’s counterpunch swift in contrast with other countries’ slower, more muted responses.

“The probability for both sides to meet for talks or even a turnaround is very small,” Mao added, warning all parties to “brace for impact”.

Set to take effect at noon on Thursday, China’s retaliatory universal tariffs of 34 per cent were seen as a sterner rebuke than the more selective hikes instituted after earlier US actions.
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