Image is from this SCMP article.

Much of the analysis below is sourced from Michael Roberts' great website.

Japan's ruling parliamentary coalition, consisting of the LDP (purple) and it's junior coalition partner Komeito (in light pink) have lost their ruling majority. They have ruled post-war Japan for almost its entire history. The LDP is currently led by Shigeru Ishiba after Kishida stood down due to a corruption scandal, and ties to the Unification Church.

While geopolitical factors (over the cold war between the US and China, etc) may have played a role, by far the biggest reason for this result in the poor economic conditions over the past few years. Inflation has risen and real wages have fallen, with little relief for the working class via things like tax reductions. While inequality in Japan is not as extreme as in America, it is still profound, with the top 10% possessing 60% of the wealth, while the bottom 50% possess just 5%.

Shinzo Abe previously tried to boost economic performance through monetary easing and fiscal deficits, while Kishida ran on a "new capitalism" which rejected Abe's neoliberalism and promised to reduce inequality. Nothing substantial has resulted from all this, however, other than increasing corporate wealth. Innovation continues to fall, and domestic profitability is low, resulting in decreasing investment at home by Japanese corporations. Labour productivity growth has only slightly picked up since the mid-2000s and is falling again. The rate of profit has fallen by half since the 1960s, and Japan has been in a manufacturing recession - or very close to it - since late 2022. In essence: there is no choice but between stagnation or decline.

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Palestinian Factions Sign Beijing Declaration on Ending Division and Strengthening Palestinian National Unity 2024-07-23 18:49

On July 23, 2024, Member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs Wang Yi attended in Beijing the closing ceremony of the reconciliation talks of Palestinian factions and witnessed the signing of the Beijing Declaration on Ending Division and Strengthening Palestinian National Unity by 14 Palestinian factions.

In his remarks, Wang Yi noted that since entering the new era, President Xi Jinping has put forward proposals and propositions on addressing the Palestinian question, contributing Chinese wisdom and solution for addressing the question. Now, 14 Palestinian factions are gathering in Beijing with the greater good of their nation in mind. This is an important historical moment in the Palestinian liberation cause. China commends the reconciliation efforts made by all the factions, and congratulates them on the success of the Beijing dialogue and the signing of the Beijing Declaration.

Wang Yi pointed out that only when Palestinian factions speak as one can the voice of justice be loud and clear, and only when they join hands and march forward shoulder to shoulder can they succeed in their national liberation cause. The most important consensus from the Beijing talks is to achieve the reconciliation and unity among the 14 factions; the core outcome is the affirmation of the Palestine Liberation Organization (PLO) as the sole legitimate representative of all Palestinian people; the biggest highlight is the agreement on establishing an interim government of national reconciliation focusing on the post-conflict reconstruction of Gaza; and the strongest call is for truly establishing an independent State of Palestine in accordance with relevant U.N. resolutions. The key to the Palestinian reconciliation process is to bolster confidence, keep to the right direction, and make incremental progress. Only by making continuous efforts to build consensus and put it into practice can the reconciliation process yield more and more substantive progress and greater unity. Reconciliation is the internal affair of Palestinian factions, and cannot happen without international support. On the path toward reconciliation, China shares the same direction and destination with Arab and Islamic countries.

Wang Yi noted that the Palestinian question is at the core of the Middle East issue. China never has any selfish interests on the Palestinian question. China was among the first countries to recognize the PLO and the State of Palestine. China all along firmly supports the Palestinian people in restoring their legitimate national rights. We value fairness and advocate for justice. At present, the Gaza conflict drags on, its spillovers continue to spread, and multiple regional conflicts are interconnected. To help get out of the current conflict and predicament, China proposes a three-step initiative:

The first step is to achieve comprehensive, lasting and sustainable ceasefire in the Gaza Strip as soon as possible, and ensure access to humanitarian aid and rescue on the ground. The international community should build more synergy for ending the hostilities and establishing a ceasefire.

The second step is to make joint efforts toward post-conflict governance of Gaza under the principle of “Palestinians governing Palestine.” Gaza is an inseparable, integral part of Palestine. Restarting post-conflict reconstruction as soon as possible is an urgent priority. The international community needs to support Palestinian factions in establishing an interim national consensus government and realizing effective management of Gaza and the West Bank.

The third step is to help Palestine become a full member state of the U.N. and get down to implementing the two-State solution. It is important to support the convening of a broad-based, more authoritative, and more effective international peace conference to work out a timetable and road map for the two-State solution.

Ceasefire and humanitarian rescue are pressing priorities. “Palestinians governing Palestine” is the basic principle for the post-conflict governance of Gaza. The two-State solution is the fundamental way forward. The international community should support the parties in taking the three steps in real earnest.

Wang Yi noted that intra-Palestinian reconciliation will bring hope and a future to the Palestinian people. It is an important step toward resolving the Palestinian question and achieving peace and stability in the Middle East. Unwavering efforts must be continually made in this direction. China sincerely hopes that Palestinian factions will achieve reconciliation and, on that basis, realize independent statehood at an early date. We will strengthen communication and coordination with the relevant parties and make joint efforts for the implementation of the Beijing Declaration.

Head of the Fatah delegation Mr. Mahmoud al-Aloul and head of the Hamas delegation Mr. Musa Abu Marzouk delivered remarks on behalf of the Palestinian factions. They noted that China holds an important place in the heart of Palestinian people, and expressed sincere appreciation for President Xi Jinping and China’s unchanging, firm support and selfless assistance to Palestine over a long period of time. They spoke highly of China’s acting as a responsible major country and upholding justice for Palestine in international fora. They expressed deep appreciation for China’s strong support for intra-Palestinian dialogue and reconciliation. They stated their readiness to implement the consensus, strengthen unity among factions, advance the reconciliation process, and work for an early solution to the question of Palestine.

Diplomatic envoys to China or their representatives from Egypt, Algeria, Saudi Arabia, Qatar, Jordan, Syria, Lebanon, Russia and Türkiye as well as representatives from 14 main Palestinian factions attended the closing ceremony.

LONG LIVE THE COMMUNIST PARTY OF CHINA AND LONG LIVE COMRADE XI JINPING