Democratic Party of Japan wins historic election in landslide

August 30, 2009

(ChattahBox) — After a half-century of near single-party rule in Japan, the decade-old opposition, Democratic Party of Japan (DPJ) has unseated the long-ruling Liberal Democratic Party (LDP).  It’s only the second time the LDP has lost its grip on government since it was founded in 1955.  Current Prime Minister Taro Aso resigned Sunday as LDP chief and DPJ President Yukio Hatoyama (photo left) will become the new Prime Minister.
The center-left DPJ won by a landslide as the party to bring change, pledging to focus more on consumer spending and reducing the power of bureaucrats. The DPJ appeared set to gain more 300 out of 480 lower house seats in play, almost triple its 115 before the election. Analysts expect the election results are likely to buoy Tokyo shares on hopes for less policy deadlock, putting pressure on Japanese government bonds and the yen.


Comments

One Response to “Democratic Party of Japan wins historic election in landslide”

  1. Joy Reed on August 31st, 2009 3:59 pm

    I hope this makes things better for Japan.

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