On Nov. 20, Shinzo Abe became Japan's longest-serving prime minister. He and Chief Cabinet Secretary Yoshihide Suga deserve credit for making such a long-running administration possible amid tough attacks from the opposition camp and the media as well as a series of problems.
Today, populism is on the rise in many countries and governments tout protectionist policies that put their own interests first. But Abe has maintained a stable administration for years now and boosted Japan's presence as a champion of defending the world against protectionist threats. A key factor making this possible is the administration's generally solid management of the domestic economy and popular support for its performance.
However, the world economy is confronted with slowdown risks, which are particularly evident among European economies. Five major research institutions in Germany, the core of the European economy, lowered that nation's 2020 growth forecast to 1.1 percent, down from 1.8 percent. The OECD is even more pessimistic — forecasting a mere 0.6 percent growth — and private think tanks in Germany similarly anticipate lower growth than is being projected by the major institutions.
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