Japanese news outlet Jiji press reports that Japanese DBJ heavyweight Ozawa may drop his challenge for party leadership after opinion polls show the public overwhelmingly supporting PM Kan to retain party leadership.
A more solid political footing for Kan likely undermines the case for intervention, in my view. If Kan were to be challenged, he may take a “what the hell, why not?” attitude toward intervention and give it a shot to save his political career. If his career is no longer threatened, he may be more cautious before challenging Mr. Market.
