Japan PM's touted a 'new capitalism' aimed at narrowing income disparities. It drove Japan's stock market into an 8-day 6.8% slump.
Japan's Prime Minister and ruling Liberal Democratic Party leader Fumio Kishida speaks as he joins a live interview with news channels individually at the party headquarters on October 31, 2021 in Tokyo, Japan. Japan took to the polls today in a general election that is expected to return the ruling Liberal Democratic Party to power. Behrouz Mehri, Pool/Getty Images Japanese PM Fumio Kishida wants his country to start adopting a new form of capitalism. His newly announced plan to tax profits on investments has riled businesses, who say it will scare off investors. When he was elected leader of the ruling party, the Nikkei 225 dropped eight consecutive days. During Fumio Kishida's race for prime minister, he touted Japan's need for a new form of capitalism. He announced plans to tax profits on investments, part of his promised effort to distribute wealth more evenly in the country. When he was elected leader of the powerful Liberal Democratic Ruling party - almost ...