Japan's Sanae Takaichi Secures Supermajority in Landslide Win

Japanese Prime Minister Sanae Takaichi won a supermajority in the latest parliamentary election, marking a landslide win to begin her tenure.

Takaichi is the nation's first female prime minister, having been elected in October, and has jumped right into a strongly conservative agenda that focuses on empowering Japan's defense capabilities, boosting economic growth, increasing investments in digital infrastructure and AI, and strengthening Japan's relationship with the United States.

As the country's first female leader, she quickly became a symbol of hope and renewal for Japan, which has been plagued with a rapidly aging population, high debt, and slow adoption of new technology.

However, she did not have a majority in either house, preventing her party from passing new bills and agreements. Instead of forming a larger coalition, which would have impacted her agenda, Takaichi took a major risk by calling a snap parliamentary election in January, which can gain or lose seats for a particular party.

Now, around one month later, her risk has paid off– Takaichi's Liberal Democratic Party (LDP) secured a supermajority in the lower house, allowing her to pass bills with ease. Alongside the LDP's coalition partner, the Japan Innovation Party, the group hold 352 of the lower house's 465 seats, with the two-thirds majority allowing them to overrule decisions made by the upper house, where Takaichi does not maintain a majority.

Stocks were sent soaring across the globe, particularly across the Japanese market due to Takaichi's economic-growth mindset. Her administration already plans to temporarily cut sales taxes for the masses, allowing them to manage their finances more effectively, and they are considering the temporary suspension of an 8% food tax to further alleviate pressure on Japanese households, which are already struggling with cost-of-living and stagnant wages.

Alongside her economic plans, Takaichi has also expressed great interest in bolstering Japan's defense capabilities. She has re-established ties with allies like the US, Australia, the UK, and even South Korea, despite their ongoing tension over the Japanese annexation of Korea in the early 1900s. She also plans to open a national intelligence agency to secure Japan's national security for the future.

Takaichi has already removed a ban on weapons exports and will ramp up defense spending to 2% of national GDP by March– double the country's military spending in 2022.

This move also follows the pledge made by Takaichi to US President Donald Trump, who is attempting to strengthen ally nations' militaries to reduce dependence on the US and ramp up pressure on China. Takaichi is scheduled to make a visit to the White House on March 19, with plans to discuss defense commitments, Chinese influence, and the details of the $550 billion investment deal established in October.

Fact of the Day (The Fact Site): Nutella was invented during WWII when an Italian pastry maker mixed hazelnuts into chocolate to extend his chocolate ration.

Quote of the Day (Gracious Quotes): Never allow a person to tell you no who doesn’t have the power to say yes. (Eleanor Roosevelt)

Word of the Day (Merriam-Webster): Fortuitous (adj, for-TOO-uh-tus) - Fortuitous is a formal word that usually describes something that comes or happens by a lucky chance. It can also mean “happening by chance” and “fortunate, lucky.”

In a Sentence: The fact that we were both there was a fortuitous coincidence.

Image credit to the New York Times