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(CNN) -- Japan's ruling Liberal Democratic Party has elected Shinzo Abe as its new president , virtually assuring him of the role of succeeding Junichiro Koizumi as prime minister of Japan on September 26. As the new party president and PM-elect, Abe will find himself running a nation that faces both encouraging economic news and important political challenges. After five and a half years at the helm, Koizumi is generally credited for bringing the world's second-biggest economy out of its malaise. How the LDP election will work Ground laid for sunshine economy Japan's relations with its neighbors 'Soft power' part of balancing act Platform for LDP favorite remains a mystery Abe scores big win in Japan poll SPECIAL REPORTQUICK VOTE |