Japanese cabinet approves policy to double military spending


Japanese Prime Minister Fumio Kishida’s government is set to significantly increase its military involvement in the Indo-Pacific region, according to annual policy guidelines adopted by Kishida’s cabinet on June 7.

Japanese Prime Minister Fumio Kishida (Image: Wikimedia)

These new guidelines come in the wake of United States President Joe Biden’s summits with Kishida and the Quadrilateral Security Dialogue (Quad) in Tokyo at the end of May, aimed at preparing for war with China.

The Basic Policies for Economic and Fiscal Management and Reform policy package calls for doubling Tokyo’s armed forces spending “within five years,” without specifying a specific numerical target. The guidelines state that Tokyo will aim for the standard set by NATO countries by spending more than 2 percent of gross domestic product (GDP) on the military. Japan currently spends about 1 percent of its GDP on the armed forces.

Tokyo’s military budget for the 2021 fiscal year reached 6.17 trillion yen ($US46 billion), which included the initial and supplementary budgets. If doubled this would make the Japan the third largest military spender in the world, surpassed by only the US and China.

In addition, the new guidelines allow increased weapon exports, with regulatory laws likely to be changed by next March, according to Nikkei Asia. In 2014, Japan eased regulations that banned the export of weapons, though this ban had been undermined in the past.

Now, Tokyo is trying to eliminate the prohibition altogether. Tokyo hopes this will allow it to more cheaply produce weaponry, such as the fighter jets and anti-aircraft missiles it is developing with the US and the United Kingdom, as well as procure weaponry at cheaper costs.

Tokyo intends to use exports to deepen military cooperation with countries in the Indo-Pacific region, such as Australia and India. Japan also hopes to sell fighter jets to countries throughout Southeast Asia in a bid to offset Chinese influence.



Read More:Japanese cabinet approves policy to double military spending

2022-06-11 04:26:30

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