[Japan's path to NATO] Japan to scrap 1% GDP cap on defense spending: Minister Kishi

[beijingwalker]

Trade deals, innovation. International companies making deals with South Korea.

Whether it grows or not, SK GDP will always be lower than Japan's due to how much clout Japan has established already.

SK has a much smaller population and lands. How long do you think Japan will continue this GDP decline, 30 more years?

 

[Itachi]

SK has a much smaller population and lands. How long do you think Japan will continue this GDP decline, 30 more years?

Which is why Japan has 4 times, or nearly 4 times, larger GDP.

Btw, this is my response to your earlier query to why Japan's GDP has been shrinking:


In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor.

Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012.

The new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.

Hope this answers your questions.

 

[beijingwalker]

Which is why Japan has 4 times, or nearly 4 times, larger GDP.

Btw, this is my response to your earlier query to why Japan's GDP has been shrinking:


In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor.

Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012.

The new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.

Hope this answers your questions.

I hope Japan's economy can grow again so that they can have more money to buy Chinese goods, it's next door market for China that China can't afford to ignore.

 

[Globenim]

You and others are really showing your lack of knowledge on the topic at hand...

Japan has a robust MIC and R&D. Japan and the US share much R&D. If needed, Japan can make most weaponry inhouse but chooses not to do so since it has the backing of the US, which itself excels at making such stuff.

Cool vapid opinions bro. I will stick with reality instead of drinking this selfdelusional Kool Aid.

Everyone here knows Japans history of being Americas cheap and lawless labour sweatshop and toxic waste dump for cheap plastic and aluminum products for decades that you try to whitewash into some mythos of Japanese ingenuity of renaming infrastructure and processes streamlining with Japanese buzzwords. The former thing widely popular among Americans to snort about China to deny it credit for where it stands now. Everyone knows about Japans Lost Years. Everyone knows about Japans history as a geographic pawn from the Entente axis to being a NATO b*tch. We didnt grow up in some revisionist American propaganda bubble.

 

[beijingwalker]

Which is why Japan has 4 times, or nearly 4 times, larger GDP.

Btw, this is my response to your earlier query to why Japan's GDP has been shrinking:


In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor.

Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012.

The new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.

Hope this answers your questions.

But you don't see many countries with their current GDP considerably smaller than theirs 30 years ago, do you?

 

[Black Tornado]

How much now? 1.5%

 

[MH.Yang]

Many people don't know Japan.
1. Japan is actually a colony of the USA, which controls Japan's politics and diplomacy.
2. In 1985, the USA forced Japan to sign the <Plaza Accord>, which destroyed Japan's economy and made it lose the possibility of challenging the status of the USA.
3. Now the Japanese want Japan to become a normal country, so they want China and the USA to weaken at the same time. Because both countries disagree it.
4. The Japanese want war between China and the USA, while Japan remains neutral. The Japanese hope that the battlefield is best in Korea or Taiwan, not the Diaoyu Islands. Because that Japan will have reason to refuse to participate directly in the war, just like the Korean War.
5. Americans do not believe in the Japanese. The USA does not allow Japan to have nuclear weapons, unlike Israel.
6. The USA attacked Japan with nuclear weapons, and the Japanese have never forgotten it, because East Asians never forget history.
7. The USA understands the Japanese plan. Biden is likely to announce that "the USA will not be the first to use nuclear weapons". This means that Japan can become a battlefield for conventional weapons. Obviously, the USA also wants Japan and China to weaken at the same time. Although Japan has always opposed nuclear weapons, they will certainly oppose the USA not being the first to use nuclear weapons.

 

[beijingwalker]

How much now? 1.5%

Doesn't matter. Japan's GDP is still shrinking, 1.5% now is less money than 1% in the past.

 

[Black Tornado]

Doesn't matter. Japan's GDP is still shrinking, 1.5% now is less money than 1% in the past.

Their GDP has stagnated, it grows and shrinks and grows and shrinks.

 

[beijingwalker]

Their GDP has stagnated, it grows and shrinks and grows and shrinks.

Today' Japan''s GDP is significantly smaller than theirs in 1995. there's big chance it will fall below 5 trillion in the near future.

 

[Falconless]

Japan should build 10 aircraft carriers and fight South Korea for that island they have dispute with.

They already have 6
Edit they have 4

 

[beijingwalker]

They already have 6

In WWII?

 

[Falconless]

In WWII?

Currently they have
2 and two more planned Izumo-class multi-purpose destroyers
2 Hyūga-class helicopter destroyer

 

[beijingwalker]

Currently they have
2 and two more planned Izumo-class multi-purpose destroyers
2 Hyūga-class helicopter destroyer

China also has those, but we don't count them as carries.

 

[Falconless]

China also has those, but we don't count them as carries.

But China doesn’t have F35Bs