A former Japanese Prime Minister, Shinzo Abe,
67, died on Friday after a gunshot incident in Nara, a city in western Japan.
The country’s longest-serving prime minister was
shot by an armed man while he was delivering a campaign speech, local media NHK
The former Liberal Democratic Party (LDP) leader was
campaigning for candidates of his party in the country’s Upper House elections
billed for Sunday.
Doctors from Nara Medical University Hospital
said the former leader died at 5:03 pm local time after excessive bleeding.
NHK reports that Abe was shot twice before he
collapsed at the scene of the rally.
Doctors said they found a bullet wound on his
neck and heart.
According to Nara Nishi Police, 41-year-old
Tetsuya Yamagami, an ex-member of the country’s Maritime Self-Defense Force, is
Yamagami, who is said to have taken the shot
with a homemade gun, has admitted to the crime, reports say.
The outlet reports that Yamagami has been
arrested and charged with attempted murder.
The suspect is said to have a grudge against the
former leader who held office as prime minister between 2006 and 2007.
Abe also served as Japan’s Prime Minister
between 2012 and 2021 before resigning due to his health status.
In his reaction to the news, Fumio Kishida,
serving Japanese Prime Minister, condemned the assasination “in the strongest
“During this election period, a despicable and
barbaric act was committed, taking the life of former prime minister Abe. This
is unforgivable,” the current PM said.
Kishida noted that Abe guided Japan in the face
of a difficult domestic and international situation through his outstanding
leadership and executive ability.
US President Joe Biden said the United States
stands with Japan “in this moment of grief.”
Biden, who said he is “stunned, outraged and
deeply saddened” by the incident, described it as “a tragedy for Japan and all
who knew him.”
Australian Prime Minister Anthony Albanese said Abe “was a great friend and Ally to Australia.”
Albanese also said he was “shocked and saddened” by the tragic death of former minister. “Deepest sympathies to his family and the people of Japan. We mourn with you,” Albanese wrote on Twitter.
Shocked and saddened by the tragic death of former Japanese PM Abe Shinzo. He was a great friend and ally to Australia. Deepest sympathies to his family and the people of Japan. We mourn with you. pic.twitter.com/ms9Va9OPN4
— Anthony Albanese (@AlboMP) July 8, 2022
The ‘Abenomics’ Legacy
‘Abenomics’ is how economists and policymakers described economic and social policies spearheaded by former Prime Minister Shinzo Abe when he led the Japanese government.
It also refers to the three-pronged set of economic policies that Abe pursued from 2012 to take Japan out of economic stagnation.
When Shinzo Abe kicked-off his second tenure as Japan’s prime minister in 2012, the Eastern Asia country was faced with decades of deflation, stagnant gross domestic product growth, and an aging population.
The set of policies focused on monetary policy, fiscal stimulus, and structural reforms by making it easier for companies and consumers to borrow, increasing government spend on infrastructure and financial incentives, and promoting labour-friendly schemes.
Experts say Abenomics was a success story with its own shortcomings.
This article was written by Solomon Oladipupo at www.financemagnates.com.