G20 Brazil: The Rio Summit

LEADERS’ VIEWS

alleviation of anxieties of individuals towards their future. Thirdly, we must “protect the people.” To protect the livelihoods of every Japanese citizen, we will implement urgent countermeasures against soaring prices as part of the upcoming economic package, such as benefits to low-income households. While striving to maximize productivity and helping to pass on cost increases to prices, we will aim to achieve a national average minimum wage of 1,500 yen per hour during the 2020s. To address anxieties about the future, we will begin reviewing the existing systems of healthcare, pensions and social security, among other areas, to ensure they effectively respond to the current needs of society. We aim to alleviate the concerns that the people have regarding their future. We will seek to create a virtuous cycle where increases in wages and consumption, combined with the expansion of capital investments – including those aimed at addressing labor shortages – lead to further wage increases. Our goal is not only to benefit certain companies but also to extend the positive effects of this policy to businesses in smaller regions. In recent years, Japan has been struck by numerous natural disasters. The frequent occurrence of major typhoons and linear precipitation zones are examples of these disasters, causing devastation in various parts of the country almost every year. Japan is one of the world’s most disaster-prone countries. Given these circumstances, we will address the concerns of the people head-on by establishing a disaster prevention agency to ensure an effective system for protecting the people from disasters … Fourthly, we must “protect the local communities.” Local communities are the main driving force for growth. Japan possesses numerous advantages for promoting agriculture, fisheries and forestry. I am convinced that Japan is well-positioned for the development of these industries … Fifthly, we must “protect the opportunities for youth and women.” We must create a society where youth and women can pursue their respective paths to happiness and human rights are protected. We also must realize a society where everyone has access to optimal education. To this end, we will strive to carry out educational reforms. I will dissolve the House of Representatives on October 9, with the campaigning period scheduled to begin on October 15 and voting for the General Election to take place on October 27. Press Conference, 1 October 2024

Shigeru Ishiba Prime Minister, Japan

Restoring trust, defending Japan and empowering citizens

I am ISHIBA Shigeru, just appointed as the 102nd Prime Minister of Japan. Today, the Liberal Democratic Party and the New Komeito Party have inaugurated a coalition Cabinet … This Cabinet will implement policies based on five key pillars that we intend to “uphold or protect.” Firstly, we must “uphold the rules” in politics. We must have politics that ensure the rules are upheld. I hope the Cabinet and the people will trust each other. Based on our trust in the people, we will tell the truth with courage and sincerity. For us to gain the trust of the people, we need to immediately pursue political reforms. To restore the people’s trust in politics, we must demonstrate our commitment to consistently implement these reforms. If political activities require funds, we must provide a thorough explanation to the people, while also ensuring our rightful commitment to full transparency in disclosing the details of the funds, which we believe have been collected with moderation … Secondly, we must “protect Japan.” I am aware that the security environment surrounding Japan is the most severe since the end of World War II. Based on the National Security Strategy, we will strive to strengthen our deterrence capabilities to protect peace and fundamentally strengthen defense capabilities. Through pursuing diplomacy based on realistic national interests, while placing the Japan–U.S. Alliance at its core, we will expand the framework of friendly and like-minded countries seeking to achieve peace for Japan and regional stability, with our diplomatic and defense capabilities

working hand in hand. In doing so, we will take the lead in efforts to respect the rule of law and further secure regional security and stability under a vision of a Free and Open Indo-Pacific … I recognize that Japan’s economy is at a crossroads of whether or not it can exit deflation. To achieve a “growth-oriented economy driven by wage increases and investment,” I will steadily continue the growth strategies pushed forward under the Kishida administration. Standing on the principle that “a sound economy is the foundation of fiscal health,” we will prioritize breaking free from deflation in our economic and fiscal management. As a first step, I will [initiate] a prompt study of economic measures to assist those suffering from soaring prices. for investment. We will also create new services. We will encourage investment so that exporting companies in industries such as automobiles, semiconductors and agriculture can achieve significant profits in overseas markets, while also enhancing industrial productivity. We will steadily continue and further develop the efforts initiated by the Kishida administration to promote Japan as a “leading asset management center.” More than half of Japan’s GDP (Gross Domestic Product) – approximately 54%, if I recall correctly – comes from individual consumption. Recognizing that supporting this is key, we will work to achieve both sustainable real wage increases and the We will ensure a shift from the conventional cost-cutting economy to one that generates high added value, aiming to make Japan a major destination

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G20 BRAZIL: THE RIO SUMMIT — 2024

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