The campaign for the July 21 Upper House election officially kicked off Wednesday. The results of this election will have a great impact on the future of Japan because it is being fought over extremely important issues such as constitutional revisions, nuclear power generation and the Trans-Pacific Partnership (TPP) free trade pact. Voters need to read campaign promises and think carefully before casting their votes.
Prime Minister Shinzo Abe will eagerly try to sell his economic policy, which is coupled with massive monetary easing by the Bank of Japan. But small and medium-size companies and local economies have not benefited from his policy.
It must not be forgotten that if a large amount of money is poured into an economy in which businesses' desire to increase capital investment and people's purchasing power are weak, it is likely to cause an economic bubble. Opposition parties must present alternative, convincing economic policies to voters.
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