Connect with us

Latest

News

5 reasons Japan’s Shinzo Abe needs his meeting with Donald Trump to go well

With Japan rocked by scandals that have prompted speculation he will be out of office in a matter of months, Japan’s Prime Minister and US lapdog, Shinzo Abe, will meet with Donald Trump in the US this week to try and salvage his declining reputation.

Vladimir Rodzianko

Published

on

539 Views

With a historic summit between the North Korean leader Kim Jong-un, and the South Korean president Moon Jae-in, less than two weeks away, followed by a possible summit between Kim and Donald Trump – Japan has found itself left out of diplomatic circles amid scandals at home.

Abe’s popularity among Japanese hit an all-time low after two allegations of cronyism connected to the PM surfaced, including a discounted sale of public land that had links to his wife.

The Guardian reported:

Abe has been badly bruised by allegations of cronyism centering on the heavily discounted sale of public land to the operator of an ultra-nationalist kindergarten in Osaka with links to his wife, Akie Abe.

He has consistently denied any wrongdoing, and said he would resign if he or his wife were shown to have been intervened in the sale of the land.

The finance ministry recently admitted to tampering with documents to remove references to Abe and his wife in papers relating to the decision to provide an 85% discount on the appraised value of the land.

He is also alleged to have used his influence to help a friend secure permission to open a veterinary school – claims he has rejected. Last week, however, an official document emerged describing the veterinary school as “an issue that involves the prime minister”.

Here are 5 reasons Shinzo Abe prays his meeting with Donald Trump goes well, via Ian Bremmer at Time:

1. Abe is facing trouble at home

Just six months ago Abe and his Liberal Democratic Party (LDP) were riding high, having secured a 2/3 supermajority in snap elections for the lower house of the Diet, Japan’s national parliament. It was a decisive victory, boosting Abe’s confidence in his ability to push ahead in his quest to rewrite Japan’s “pacifist” constitution.

In the run-up to those elections, Abe’s popularity was above 50 percent, and pundits were bullish on the prospect of him winning a third term as president of the Liberal Democratic Party (LDP) and becoming Japan’s longest-serving prime minister in the post-war era (he’s currently third).

Today, his popularity has plummeted to below 30 percent according to one recent poll (lower than Trump’s current 39 percent). Much of that has to do with the Moritomo scandal, which involves allegations that a rightwing activist close to Abe and his wife secured a suspiciously good land deal from the government to establish an elementary school.

While the scandal has been plastered across Japanese headlines since early 2017 — and the Abes deny any wrongdoing — recent reports that Japan’s Finance Ministry doctored documents related to the deal to remove references to Abe, his wife Akie, and other political figures have breathed new life into accusations of impropriety and sparked a broader effort to dig up more examples of government misdoings.

Almost half (48 percent) of Japanese voters believe Abe should resign over the scandal; just this weekend, thousands took to the streets in Tokyo to demand his ouster. There are countries where protests like this happen once a week; Japan isn’t one of them.

2. Abe wants a seat at the table for North Korea talks

All these issues are coming to a head as Abe is preparing to run for reelection in the LDP’s presidential contest this September and serve another 3-year term. But it’s not just domestic politics that Abe needs to be worried about. Abe was caught completely off guard by Trump’s impromptu decision to accept North Korean Leader Kim Jong-Un’s invitation to a summit later this spring.

Along with South Korea’s previous administration, Abe had held a tough-line on sanctioning and isolating the Kim regime. Now South Korea is headed by Moon Jae-In, a progressive politician who advocates peaceful engagement with North Korea, and the U.S. is being led by the mercurial Trump.

Japan is understandably concerned about being marginalized from, or even left out of, negotiations—it wants to make sure that if, for example, North Korea agrees to destroy the ICBMs that can hit the U.S. mainland, it will also destroy the short and medium-range ballistic missiles that can hit Japan, too.

A nuclear North Korea remains a non-starter for Japan, as it is for the U.S.—expect Abe to reaffirm his firm support for the U.S. “maximum pressure” strategy during discussions with Trump this week, and for Trump to agree wholeheartedly that keeping tough sanctions in place is critical to efforts to persuade Kim to abandon his nuclear ambitions.

3. Trump’s aggressive trade tariffs

North Korea is actually expected to be the easy part of the Trump-Abe summit. Much more contentious will be the trade talk—it hasn’t escaped Abe’s notice (nor that of his detractors in Japan) that his supposedly warm relationship with Trump failed to secure his country’s exemption from Trump’s Section 232 steel and aluminum tariffs, which the US will likely impose next month. Japan is responsible for nearly 5 percent of all steel imported into the U.S., or roughly 1.9 million tons.

It’s no secret that Trump prefers bilateral trade deals to multilateral ones; Trump argues that the U.S. can exert more leverage on governments by confronting them one-on-one. So we can expect Trump to lean on Abe to begin negotiations for a bilateral free trade agreement (FTA), likely by tying them to the lifting of steel and aluminum sanctions.

Abe will try to avoid promising anything specific on that front, knowing that Trump will seek to extract more concessions from Japan than it already agreed to give in the Trans-Pacific Partnership (TPP) trade agreement.

But Abe is not in a position to refuse Trump outright given Japan’s need to keep the economic and security relationship on an even keel. Abe will likely try to give Trump just enough to allow the U.S. president to declare that Japan has committed to a better deal for the U.S., but not so much that Abe looks like has caved into Trump’s demands.

That rather tortured compromise will probably come in the form of pledges to work harder to reduce the U.S. trade deficit and to allow U.S. firms more unfettered access to the Japanese market.

4. The possibility of the U.S. joining the Pacific region’s big trade pact

Instead of agreeing to near-term bilateral FTA talks, Abe will try to steer Trump back towards TPP, which was intended both to promote international commerce and to hem in China’s economic, political, and security ambitions in Asia.

Abe spent enormous political capital selling the Japanese public on the need for the 12-country trade deal when it was still being negotiated under Obama, but Trump withdrew the U.S. from TPP talks just three days into his presidency, fulfilling a key campaign promise. The rest of the signatories forged ahead and signed a revised agreement last month now colloquially referred to as TPP-11; this new trade deal dropped the U.S.-backed provisions on intellectual property and investor-state dispute settlements, among others.

Getting the U.S. under Trump to join TPP was always going to be a longshot. But those prospects received an unexpected boost late last week when Trump tweeted that he was open to looking again at TPP now that a possible trade war with China looms—albeit with the caveat that only “if the deal were substantially better than the deal offered to Pres. Obama.”

Given that the Obama team engaged in arduous negotiations for years to extract U.S.-friendly concessions, it seems unlikely the signatories would capitulate just because Trump tweeted his openness to joining; indeed, many of the TPP-11 countries were notably cool to the prospect, especially if that would require reopening and renegotiating the original TPP text.

Japan, however, is more open to the idea of helping create a pathway for the U.S. to join TPP — and even if it never comes to pass, Abe will express to Trump his government’s willingness to support him on this front.

5. The delicate art of golf diplomacy

The reality is that there are some unprecedentedly complex issues on the summit agenda this week, and the political troubles that both Abe and Trump are facing at home will make significant concessions tough for either to offer. But Abe arrives this week knowing that he must try his best to give Trump enough for him to declare (tweet?) the summit a success; it remains to be seen what Trump is willing to give Abe in return.

But make no mistake: now that Beijing is in Trump’s crosshairs (and vice versa), the Abe-Trump relationship is more important than ever. How important? Reports last week that Trump’s advance team hadn’t extended a formal invitation to Abe for a round of golf threw Tokyo into a tizzy. Thankfully, golf this week has been confirmed.

And if Abe can charmingly ingratiate himself to Trump as he did during their last outing on the links, so much the better for Japan—and the U.S., too.

Advertisement
Comments

Latest

It’s Official: ‘Britain’s Democracy Now At Risk’

It’s not just campaigners saying it any more: democracy is officially at risk, according to parliament’s own digital, culture, media and sport committee.

The Duran

Published

on

Via True Publica, authored by Jessica Garland – Electoral Reform Society:


Britain’s main campaign rules were drawn up in the late 1990s, before social media and online campaigning really existed. This has left the door wide open to disinformation, dodgy donations and foreign interference in elections.

There is a real need to close the loopholes when it comes to the online Wild West.

Yet in this year’s elections, it was legitimate voters who were asked to identify themselves, not those funnelling millions into political campaigns through trusts, or those spreading fake news.

The government trialled mandatory voter ID in five council areas in May. In these five pilot areas alone about 350 people were turned away from polling stations for not having their papers with them — and they didn’t return. In other words, they were denied their vote.

Yet last year, out of more than 45 million votes cast across the country, there were just 28 allegations of personation (pretending to be someone else at the polling station), the type of fraud voter ID is meant to tackle.

Despite the loss of 350 votes, the pilots were branded a success by the government. Yet the 28 allegations of fraud (and just one conviction) are considered such a dire threat that the government is willing to risk disenfranchising many more legitimate voters to try to address it. The numbers simply don’t add up.

Indeed, the fact-checking website FullFact noted that in the Gosport pilot, 0.4 per cent of voters did not vote because of ID issues. That’s a greater percentage than the winning margin in at least 14 constituencies in the last election. Putting up barriers to democratic engagement can have a big impact. In fact, it can swing an election.

In the run-up to the pilots, the Electoral Reform Society and other campaigners warned that the policy risked disenfranchising the most marginalised groups in society.

The Windrush scandal highlights exactly the sort of problems that introducing stricter forms of identity could cause: millions of people lack the required documentation. It’s one of the reasons why organisations such as the Runnymede Trust are concerned about these plans.

The Electoral Commission has now published a report on the ID trials, which concludes that “there is not yet enough evidence to fully address concerns” on this front.

The small number of pilots, and a lack of diversity, meant that sample sizes were too small to conclude anything about how the scheme would affect various demographic groups. Nor can the pilots tell us about the likely impact of voter ID in a general election, where the strain on polling staff would be far greater and a much broader cross-section of electors turns out to vote.

The Electoral Reform Society, alongside 22 organisations, campaigners and academics, has now called on the constitution minister to halt moves to impose this policy. The signatories span a huge cross-section of society, including representatives of groups that could be disproportionately impacted by voter ID, from Age UK to Liberty and from the British Youth Council to the Salvation Army and the LGBT Foundation.

Voters know what our democratic priorities should be: ensuring that elections are free from the influence of big donors. Having a secure electoral register. Providing balanced media coverage. Transparency online.

We may be little wiser as a result of the government’s voter ID trials. Yet we do know where the real dangers lie in our politics.

Continue Reading

Latest

Corrupt Robert Mueller’s despicable Paul Manafort trial nears end (Video)

The Duran – News in Review – Episode 79.

Alex Christoforou

Published

on

Paul Manafort’s legal team rested its case on Tuesday without calling a single witness. This sets the stage for closing arguments before the judge hands the case to jurors for a verdict.

Manafort’s defense opted to call no witnesses, choosing instead to rely on the team’s cross-examination of government witnesses including a very devious Rick Gates, Manafort’s longtime deputy, and several accountants, bookkeepers and bankers who had financial dealings with Manafort.

Closing arguments are expected on Wednesday. Jurors may begin deliberating shortly after receiving their final instructions from judge Ellis.

Manafort case has nothing to do with Mueller’s ‘Trump-Russia collusion witch-hunt’ as the former DC lobbyist is accused of defrauding banks to secure loans and hiding overseas bank accounts and income from U.S. tax authorities.

U.S. District Judge T.S. Ellis III denied a defense motion to acquit Manafort on the charges because prosecutors hadn’t proved their case.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the circus trial of Trump’s former Campaign Manager Paul Manafort, and how crooked cop Robert Mueller is using all his power to lean on Manafort, so as to conjure up something illegal against US President Donald Trump.

Remember to Please Subscribe to The Duran’s YouTube Channel.

Via Zerohedge

Prosecutors allege he dodged taxes on millions of dollars made from his work for a Ukrainian political party, then lied to obtain bank loans when cash stopped flowing from the project.

The courtroom was sealed for around two hours Tuesday morning for an unknown reason, reopening around 11:30 a.m. with Manafort arriving around 10 minutes later.

The decision to rest their case without calling any witnesses follows a denial by Judge T.S. Ellis III to acquit Manafort after his lawyers tried to argue that the special counsel had failed to prove its case at the federal trial.

The court session began at approximately 11:45 a.m.:

“Good afternoon,” began defense attorney Richard Westling, who corrected himself and said, “Good morning.”

“I’m as surprised as you are,” Judge Ellis responded.

Ellis then heard brief argument from both sides on the defense’s motion for acquittal, focusing primarily on four counts related to Federal Savings Bank.

Federal Savings Bank was aware of the status of Paul Manafort’s finances,” Westling argued. “They came to the loans with an intent of doing business with Mr. Manafort.”

Prosecutor Uzo Asonye fired back, saying that that even if bank chairman Steve Calk overlooked Manafort’s financial woes, it would still be a crime to submit fraudulent documents to obtain the loans.

“Steve Calk is not the bank,” Asonye argued, adding that while Caulk may have “had a different motive” — a job with the Trump administration — “I’m not really sure there’s evidence he knew the documents were false.”

Ellis sided with prosecutors.

The defense makes a significant argument about materiality, but in the end, I think materiality is an issue for the jury,” he said, adding. “That is true for all the other counts… those are all jury issues.”

Once that exchange was over, Manafort’s team was afforded the opportunity to present their case, to which lead attorney Kevin Downing replied “The defense rests.

Ellis then began to question Manafort to ensure he was aware of the ramifications of that decision, to which the former Trump aide confirmed that he did not wish to take the witness stand.

Manafort, in a dark suit and white shirt, stood at the lectern from which his attorneys have questioned witnesses, staring up at the judge. Ellis told Manafort he had a right to testify, though if he chose not to, the judge would tell jurors to draw no inference from that. – WaPo

Ellis asked Manafort four questions – his amplified voice booming through the courtroom:

Had Manafort discussed the decision with his attorney?

“I have, your honor,” Manafort responded, his voice clear.

Was he satisfied with their advice?

“I am, your honor,” Manafort replied.

Had he decided whether he would testify?

“I have decided,” Manafort said.

“Do you wish to testify?” Ellis finally asked.

“No, sir,” Manafort responded.

And with that, Manafort returned to his seat.

Continue Reading

Latest

One more step toward COMPLETE de-dollarization

Over the past several months, sitting here in Moscow, it has become increasingly obvious that while the US Dollar is unquestionably the world’s leading and liquid reserve currency, it comes with an ever increasing high price (of sovereignty and FX) if you are not the USA.

Published

on

I have opined and written about the trend towards de-dollarization before, but with the latest US –Turkish spat it has hit the wallets, mattresses and markets of a number of countries, be they aligned with Washington or not. One thing they all have in common was that in this recent era of low cost available money, many happily fed at the US dollar trough.

Support The Duran – Browse our Shop >>

This serves as a further albeit loud example to many nations for the need to diversify to an extent away from the greenback, or risk being caught up in its volatile, sudden and unpredictably risky increasingly politicized directions.

The Dollar and the geopolitical winds from Washington are today as never before openly being used as policy, which can be called the “carrot and stick”, a distinctly Pavlovian approach. Sadly, few if any can make out where or what the carrot is in this recent US worldview branding.

Tariffs, sanctions, pressured exchange rates, the Federal Reserve loosening or tightening, trade agreements and laws ignored or simply trashed… there is a lot going on which seems to democratically affect America’s allies as well as those on Washington’s politically popular and dramatic “poo-poo” list.

Just now from a press conference in Turkey, I watched Russia’s foreign minister Lavrov say that through the actions shown by the US, the role of the US dollar as a secure global reserve currency for free trade will diminish as more countries switch to national currencies for international trade.

He clearly spoke for many nations when he said; “It will make more and more countries that are not even affected by US sanctions go away from the dollar and rely on more reliable, contractual partners in terms of currency use.” Putting the situation in a nutshell he went on to say “I have already said this about sanctions: they are illegal, they undermine all principles of global trade and principles approved by UN decisions, under which unilateral measures of economic duress are unlawful.”

Turkey, a long-standing NATO ally and a key line of western defense during the long cold war years fully agreed with his Russian counterpart. The Turkish foreign minister Mr. Cavosoglu openly warned that US sanctions or trade embargoes can and are being unilaterally imposed against any country at any time if they do not toe DC’s political line.

He said at the same press conference; “Today, sanctions are imposed on Turkey, and tomorrow they can be used against any other European state. If the United States wants to maintain respect in the international arena, then it is necessary for it to be respectful of the interests of other countries.”

What is happening in Turkey is symptomatic of the developed and emerging markets globally. When trillions of dollars of newly issued lucre was up for grabs, thanks to several developed country central banks, it was comparatively easy for governments and companies just like Turkey’s to borrow funds denominated in dollars and not their national currencies.

Turkey has relied on foreign-currency debt more than most EM’s. Corporate, financial and other debt denominated mostly in dollars, approximates close to 70% of it’s economy. Therefore as the Turkish lira plunges, it is very costly for those companies to repay their dollar-denominated loans, and even now it is patently clear many will not.

The concern rattling around the underbelly of the global markets is what can be reasonably expected for assets and economies that were inflated by cheap debt, the United States included. All this points not so much to a banking crisis as has happened eight years ago, but a systemic financial market crisis.

This is a new one, and I doubt if any QE, QT, NIRPs, or ZIRPs will make much of a difference, despite the rocket-high equity markets the US has been displaying.

One financial trader I spoke to, whom I have known since the early 1980’s (and I thought him ancient then) muttered to me “we’re gettin’ into the ecstasy stage, nothing but the high matters, everything else including the VIX is seen as boring denial, and not the warning tool it is. Better start loading up on gold.”

Meanwhile, de-dollarization is ongoing in Russia and is carefully studied by a host of countries, especially as the Russian government has not yet finished selling off US debt; it still has just a few billion to go. The Russian Finance Minister A. Siluanov said this past Sunday that Russia would continue decreasing holdings of Treasuries in response to sanctions.

The finance minister went on to say that, Russia is also considering distancing itself from using the US dollar for international trade, calling it an unreliable, conditional and hence risky tool for payments.

Between March and May this year, Russia’s US debt holdings were sold down by $81 billion, which is 84% of its total US debt holdings, and while I don’t know the current figure it is certain to be even less.

The latest round of tightening sanctions screws against Russia were imposed by the State Department under a chemical and biological warfare law and should be going into effect on August 22. This in spite of the fact that no proof was ever shown, not under any established national or international law, or with any of several global biochemical conventions, not even in the ever entertaining court of public opinion.

Whatever Russia may continue to do in its relationship with US debt or the dollar, the fact of the matter is that Russia is not a heavyweight in this particular financial arena, and the direct effects of Russia’s responses are negligible. However, the indirect effects are huge as they reflect what many countries (allied or unallied with the US) see as Washington’s overbearing and more than slightly unipolar trade and geopolitical advantage quests, be they Mexico, Canada, the EU, or anyone else on any hemisphere of this globe.

Some of the potential indirect effects over time may be a similar sell-off or even gradual reduction of US debt exposure from China or any one of several dozens of countries deciding to reduce their exposure to US debt by reducing their purchases and waiting for existing Treasuries to mature. In either case, the trend is there and is not going away anytime soon.

When Russia clears its books of US dollarized debt, then who will be next in actively diversifying their US debt risk? Then what might be the fate of the US Dollar, and what value then will be the international infusions to finance America’s continually growing debt, or fuel the funds needed for further market growth? Value and the energy of money has no politics, it ultimately trends towards areas where there is a secure business dynamic. That being said, looks like we are now and will be living through the most interesting of disruptive times.

Continue Reading

JOIN OUR YOUTUBE CHANNEL

Advertisement

Your donations make all the difference. Together we can expose fake news lies and deliver truth.

Amount to donate in USD$:

5 100

Waiting for PayPal...
Validating payment information...
Waiting for PayPal...

Advertisement
Advertisements

Quick Donate

The Duran
EURO
DONATE
Donate a quick 10 spot!
Advertisement

Advertisements

The Duran Newsletter

Advertisement
Advertisement

Trending