Japan's new prime minister promises How is 'new capitalism'?


    Japan's new prime minister, Fumio Kishida, sells plans to spread wealth in the country as "New Capitalism"But some critics on social media suggest the plan sounds more socialist to them. even dubbed Japan's "common prosperity", citing key policies from the Communist Party of China.Does he understand

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    how capitalism works?

    tweeted Hiroshi Mikitani, chief executive of Rakuten - a major Japanese online retailer, and answered retail giant Amazon's questions.Mikitani was particularly angry with the prime minister's proposal to raise capital gains tax (CGT), the government levied on capital gains, calling it a "double taxation".
    Rakuten's bosses are not alone in expressing their displeasure over the controversial new proposal.

    Many fear it can quickly destroy a new wave of interest in the stock market from small retail investors.In Japan, the election of a new prime minister traditionally kicked off a stock market rally. But instead of Mr. Kishida's arrival in October. (before the House of Representatives elections) saw the Nikkei 225 sink instantly.The index has fallen for eight straight days,