Statement by Yoshimitsu Kobayashi, Chairman of Keizai Doyukai
On U.S. Presidential Election Result
November 9, 2016
Chairman, Keizai Doyukai
- The victory of Mr. Donald Trump is confirmed in the U.S. presidential election. The voting was carried out amid a very unclear environment with a feeling that anything could happen until the very last moment. Its result was a big surprise similar to that of Brexit.
- When I visited the U.S. last September, I felt the people's anger and antagonism intensifying more than expected against the existing political system. I recognize now that the election result is the ventilation of the national sentiment. The globalization and digitization, both considered irreversible, have left many people behind the trend and widened the economic inequality. The new administration of the president-elect Trump will need a long time to address the bedrock cause behind the “Trump Phenomenon.”
- Mr. Trump's victory is expected to have a big global impact, leading to a temporary economic confusion such as a lower share price and yen's appreciation. We cannot clearly foresee its influence to U.S.-Japan relation. Japanese government's first priority will be to establish a smooth communication channel with the Trump administration. Now that the election is over, we are now hoping that Mr. Trump will fine-tune his policy path as the actual administration structure is formulated.