FOCUS: Japan’s revamped Cabinet still needs to flesh out new capitalism push

Published by
Kyodo News

A drop in public support has come as a jolt to Prime Minister Fumio Kishida, who has yet to deliver on his promise to create a new form of capitalism. Economic growth is a prerequisite for Kishida’s goal to spread more wealth among the public. But accelerating inflation in Japan, blamed on Russia’s war in Ukraine, has already begun to hit households while wages are not rising much, threatening to cloud the outlook for the world’s third-largest economy. Kishida turned to familiar faces with experience to form a new Cabinet and ruling party executive lineup Wednesday, apparently opting to play i…

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