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Kishida convenes blue-ribbon committee meeting on “new form of capitalism” 

  • October 27, 2021
  • , All national papers
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All national papers wrote that Prime Minister Kishida chaired the first meeting of the GOJ taskforce on the creation of a new form of capitalism at the Kantei on Tuesday. He instructed Minister for Economic Revitalization Yamagiwa and other panelists to present a package of recommendations in early November aimed at ensuring a sustainable cycle between economic growth and wealth distribution. He reportedly asked the participants, including a young female entrepreneur and a leading expert on artificial intelligence, to come up with innovative ideas in such fields as economic digitalization, decarbonization, educational investment, and economic security, including the launch of resilient supply chains.   

 

Mainichi speculated that the prime minister convened the session hastily in a bid to call attention to his signature policy ahead of the general election, noting that it remains unclear whether the taskforce will be able to present viable recommendations in such a short span of time. The daily quoted an unnamed LDP candidate seeking reelection as saying: “Kishida’s call for a new form of capitalism is long on words but short on actions. The initiative does not appeal to voters because it is still too abstract.”  

 

Sankei noted that Kishida has talked more about growth and less about distribution in his recent stump speeches during the general election campaign, conjecturing that he has perhaps come to realize that it is necessary to achieve robust economic growth first because that will be the main source of the wealth to be distributed. The daily added that the ambitious policy goals that the premier trumpeted during the LDP presidential race, such as “doubling people’s incomes” and a “breaking away from neoliberalism,” have already receded into the distance.  

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