How Japan’s new prime minister is jolting markets

The Indicator from Planet Money

NPR

Business

4.7 • 9.2K Ratings

🗓️ 3 December 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sanae Takaichi was sworn in as Japan’s first female prime minister a little over a month ago, and she’s already making waves in the East and West. The first priority for the people of Japan is if her government can fix the country’s cost-of-living problem. Today on the show, we break down what Sanaeonomics could mean for the Land of the Rising Sun.

Related episodes
How Japan is trying to solve the problem of shrinking villages
Japan had a vibrant economy. Then it fell into a slump for 30 years

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.

Learn more about sponsor message choices: podcastchoices.com/adchoices

NPR Privacy Policy

Transcript

Click on a timestamp to play from that location

0:00.0	NPR
0:02.0	Japan's economy has been going sideways since the 1990s.
0:16.0	Economic growth was barely there and it was even grappling with deflation.
0:21.7	You know, prices falling.
0:23.6	But now, for the first time in about 30 years, inflation has started to bite.
0:29.6	And that's helped pave the way for a new Prime Minister
0:32.6	with a colorful and radical streak.
0:38.9	In October, Sinai Takahichi became leader of the conservative liberal Democratic Party, or
0:44.7	LDP.
0:46.0	She was soon sworn in as Japan's first female prime minister.
0:50.1	In one of her early speeches, she said she's throwing away the phrase work-life balance for herself.
1:00.0	She's saying she's throwing away the work-life balance, and she would work and work and work.
1:05.1	Yes, Anaya Take-Ichi is a little hardcore.
1:07.9	As the most indolent member of the indicator staff, I simply cannot relate.
1:12.3	Her secret is true story, drumming heavy metal. She was also a TV personality and has sung
1:19.0	karaoke in front of the nation.
1:26.0	Takeichi is nationalistic and telegenic.
1:29.0	So naturally, Xi and U.S. President Donald Trump got along famously when Trump visited Japan in October.
1:36.2	She presented Trump with a gold-leaf golf ball and a putter that belonged to the late Japanese Prime Minister Shinzo Abe, who was her mentor.
1:44.4	Less positive is Takaichi's relationship with China.
1:48.6	Beijing is steaming after her comments on Taiwan.
1:52.5	And on Japan's ailing economy,
	...

Transcript will be available on the free plan in 8 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from NPR, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of NPR and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.