Japanese Prime Minister Fukuda resigns abruptly over political deadlock
taking the whole nation by surprise. 

TOKYO, JAPAN (SEPTEMBER 02, 2008) REUTERS - 
Japan began searching for a new prime minister on Tuesday (September
2) after Yasuo Fukuda became the second leader to resign in less than a year,
threatening a further policy vacuum as the economy teeters on the brink of
recession.
    Fukuda's sudden resignation is now taking the whole nation by surprise.

    "I don't know why he decided to quit all the sudden like former
Prime Minister Abe when he quit last September," 54 year-old businessman
Shota Kamimura told Reuters during his morning commute. "As a Japanese
citizen, I'm worried because his resignation will affect how the world sees
us, especially at times when we are losing the international trust," he
added. 
    36 year-old businesswoman Naoko Imai said she is upset with the way he
resigned. 
    "I felt like he decided to give up everything and quit as soon as
he got fed up with the situation," said Imai. 
    On the contrary, some younger generation was taking the leader's leave
as a positive change. 
    "I just feel like there are many candidates in the ruling Liberal
Democratic Party that can make new reforms - even in the opposition party as
well," 24 year-old businessman Kota Shimada told Reuters. "So I'm
looking forward to seeing new changes happen in Japan."
    Unpopular Fukuda said on Monday (September 1)  that he had decided to
resign in an effort to break a political deadlock. 
    Fukuda, 72, has been struggling to cope with a divided parliament where
the opposition parties control the upper house and can delay legislation. 
    "If we are to prioritise the people's livelihoods, there cannot be
a political vacuum from political bargaining, or a lapse in policies. We need
a new team to carry out policies," Fukuda said. "Today, I decided to
step down in hopes that important policies can be materialised more
smoothly."
    Topping the list of likely candidates to become Japan's 11th prime
minister in 15 years is former foreign minister Taro Aso, 67, an outspoken
nationalist who now holds the No. 2 position in the ruling Liberal Democratic
Party (LDP). He was runner-up to Fukuda in the race for party chief last
year.
    Aso did not immediately announce he would run, but told reporters he
thought he was a suitable candidate.
    Other potential contenders whose names have been floating in the past
include Economics Minister Kaoru Yosano, known for his commitment to fixing
Japan's tattered finances, and Yuriko Koike, who last year became the
country's first female defence minister, although she only held the post
briefly.
    Fukuda's sudden departure had raised questions about his conservative
party's ability to cling to power or even hold together after ruling Japan for
most of the past six decades.
    Market analysts said Japan's stock and bond markets would likely suffer
another blow from the sudden resignation of Fukuda, with his departure seen
clouding the reform outlook and potentially spurring debt-funded spending.
    Such dismay among investors would likely dog the yen and the Nikkei
share average while driving government bond yields higher on worries about how
much money the LDP might spend to restore its dismal public ratings, analysts
said.