2007 | The year of the Boar

"As the Year of the Dog closed, Japan remains dogged by a host of foreign-policy challenges carried over from the previous year. Among those challenges are: resolving the crisis over neighboring North Korea's nuclear program, a grave security concern for Japan; contributing to peace and reconstruction in Iraq; and getting soured relations with China and South Korea, a negative legacy of Abe's predecessor, Koizumi, back on track.

Meanwhile, the Japanese economy is booming, renewing the record postwar growth spell. Many analysts optimistically expect the boom to continue, at least throughout the new year. The Bank of Japan (BOJ) ended its unusual zero-interest policy of nearly six years last July, raising rates to 0.25% from effectively zero, as the economy gained strength. The focus of immediate attention is when the central bank will make the next rate hike, which may come early in the new year. (...)

There is a Japanese term chototsumoshin, meaning "dashing forward recklessly," that uses the kanji characters for a boar charging ahead. Without a crystal ball, it is impossible to predict precisely how the myriad political, diplomatic and economic challenges facing the Abe government will play out in the new year. But at least one thing seems clear: the prime minister will not be able to dash forward to achieve everything on his long-term agenda, especially a constitutional revision, if he fails to ride out what is seen by some as a life-or-death election for him in summer."

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