Financial Times

Germany and Italy pressed to bring $245bn of gold home from US

“Germany and Italy pressed to bring $245bn of gold home from US”

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The LDP’s record 316 seats in the 465-seat House of Representatives will give it tight control of parliamentary business, the ability to over-rule the less powerful upper house on legislation and an opportunity to launch a push to change Japan’s US-authored constitution.

“The LDP’s record 316 seats in the 465-seat House of Representatives will give it tight control of parliamentary business, the ability to over-rule the less powerful upper house on legislation and an opportunity to launch a push to change Japan’s US-authored constitution.”

There is nothing intrinsically unreasonable about wanting to amend a constitution drawn up by Japan’s conquerors in the 1940s, and doing so would demonstrate the nation’s ability to evolve.

“There is nothing intrinsically unreasonable about wanting to amend a constitution drawn up by Japan’s conquerors in the 1940s, and doing so would demonstrate the nation’s ability to evolve.”

Such moves should help reduce Tokyo’s dependence for security on an unreliable US.

“Such moves should help reduce Tokyo’s dependence for security on an unreliable US.”

But she should try to avoid any unnecessary provocation towards Beijing, and refrain from visiting the controversial Yasukuni shrine to Japan’s war dead.

“But she should try to avoid any unnecessary provocation towards Beijing, and refrain from visiting the controversial Yasukuni shrine to Japan’s war dead.”

Constitutional change is an issue dear to her, as it was to Abe, but she should be careful not to focus on it at the expense of more urgent matters.

“Constitutional change is an issue dear to her, as it was to Abe, but she should be careful not to focus on it at the expense of more urgent matters.”

But the LDP’s desire to tinker with the “peace clause” to formally recognise Japan’s Self-Defense Forces, and to give the prime minister potentially sweeping powers in times of emergency, is potentially deeply divisive.

“But the LDP’s desire to tinker with the “peace clause” to formally recognise Japan’s Self-Defense Forces, and to give the prime minister potentially sweeping powers in times of emergency, is potentially deeply divisive.”

Any change to the constitution would also require two-thirds support in parliament’s upper house, where the LDP currently lacks even a majority, and the backing of a majority of voters — high hurdles that suggest Takaichi would be wise not to rush.

“Any change to the constitution would also require two-thirds support in parliament’s upper house, where the LDP currently lacks even a majority, and the backing of a majority of voters — high hurdles that suggest Takaichi would be wise not to rush.”

She might sensibly rethink plans for a two-year consumption tax exemption for food sales.

“She might sensibly rethink plans for a two-year consumption tax exemption for food sales.”

But she should not let her tone become hostile, given Japan’s real need for immigrants to soften the impact of population ageing and decline.

“But she should not let her tone become hostile, given Japan’s real need for immigrants to soften the impact of population ageing and decline.”

Despite her majority, though, she will still have to work hard to keep the country with her.

“Despite her majority, though, she will still have to work hard to keep the country with her.”