The visit to Pearl Harbor by Prime Minister Abe is a powerful reaffirmation of the importance of the Japan-US security alliance and signals Japan’s intentions to help preserve the postwar international order. It could also have far-reaching repercussions, says Senior Fellow Tsuneo Watanabe, in encouraging reconciliation and stability across East Asia.
The BOJ’s quantitative and qualitative easing policy has helped to lift the Japanese economy out of deflation, but unless wages rise further, the bank’s target of 2% inflation will remain elusive. Noting that Abenomics has made little progress on its third arrow, financial expert Takeo Hoshi calls for full-fledged efforts to advance structural reforms.
Breaking Free of Dependence on Rare Earths
China’s Resource Nationalism Spawns Alternative Technologies
The ban China effectively imposed on exports of rare earths over a diplomatic row with Japan has had the unintended consequence of prompting Japanese companies to develop alternative technologies to avert resource security risks. Research fellow Hikaru Hiranuma argues that nations should think twice before politicizing supplies of energy and other resources—a move that will only lower their value.
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