00:00Japanese voters will head to the polls on Sunday after Prime Minister Sanai
00:03Takaiichi took a bold gamble and called for a snap election just three months
00:07into her role. Takaiichi is not only putting her leadership on the line as
00:11Japan's first ever female Prime Minister, but the stakes are also high for the
00:15country and beyond. Japan plays an outsized role in global financial
00:19markets as one of the world's largest economies. Takaiichi's decision to call a
00:23snap election already triggered a sharp sell-off in Japan's longer-term bond
00:27market that spooked investors worldwide. But she is betting on her very high
00:32approval ratings to carry her party to victory. Her track record so far
00:36includes managing good relations with US President Donald Trump, accelerating
00:41defense spending and passing an extra budget. She's done all of this while
00:45leading a government with a razor-thin majority in the lower house. Now she
00:50wants to consolidate her power and get a clear mandate to push ahead with her
00:54agenda for a more assertive Japan. If her gamble pays off and she wins a more
00:58comfortable majority, it'll be a much easier task to carry out her plans to
01:02increase investment to boost growth, temporarily cut the sales tax on food to
01:07relieve rising living costs, and take a firmer stance on defense, foreigners, and
01:12China. But if she can't win a majority, she may face a self-inflicted ouster, echoing
01:17Liz Truss's swift downfall. That would mean more political uncertainty for Japan as it
01:22casts around yet again for a new leader and for global investors as they brace for
01:26more volatility ahead.
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