Friday, November 11, 2016

The future of Japan


Since its fall in 1990, receiving the name "the lost decade", Japan's economy has been very unsuccessful in regaining the great growth it once had in the years following World War 2. Virtually always on the brink of recession, Japan's economy is in desperate need of help. Largely to blame from Japan's shrinking birth rate and aging work force, the current prime minister Shinzo Abe has been working to fix such problems. However, with recent news of Donald Trump becoming new president of The United States, even more fear has been set into the people of Japan, and an even harder task has been laid out for Mr. Abe

Quick to recover from the shocking news, by Wednesday night Abe had already called Trump to set up a meeting for the following week in New York. "In hustling to be one of the first world leaders to meet with Mr. Trump since the election, Mr. Abe is seeking to gauge the sincerity of Mr. Trump's campaign rhetoric on Japan." said Motoko Rich for The New York Times. Luckily for Japan, Abe understands what this situation might unfold and has acted accordingly. Japan relies strongly on America's military for support, as well as completely relying on America for nuclear deterrence, and the loss of any of these assets could put Japan in a lot of trouble. With North Korea becoming bolder in the testing of its atomic weapons, as well as China repeatedly sending vessels, including a warship a few months past, into disputed waters near Japanese controlled islands, tensions are increasing as Japan is put into an uncomfortable position.


Along with these issues of military protection, Japan still has its failing economy to worry about. Despite Abe's failing plans to revitalize the economy, there was still hope in the Trans-Pacific Partnership, a trade agreement between The United States and several Asian countries including Japan, which was recently approved by Japan's lower house of parliament, moving closer to ratification. However, with Trump moving into presidency, any hope of the treaty passing seems gone. As well as the increase of the Japanese yen, possibly made even stronger with Trump as president, even more issues are being made for Japan, as this increase will in turn result in a decrease in exports as well as many other problems, only making it worse for Japan's economy.

Despite Abe's seemingly unsuccessful plans to bring back Japan's economy, he has still proven to be a greater source of stability than many past leaders. You can see this from simply looking at Japan's recent history of prime ministers. Since 2007, Japan has had six different prime ministers, yet since being elected in 2012, Abe has held his position, proving that there is some form of trust between him and the people of Japan. Perhaps the real thing Japan needs is time, which it hasn't had in previous years with its yearly rotation of leaders between 2006 to 2012. Nonetheless, if Abe can successfully build a healthy relationship with Trump, along with adequate time, Shinzo Abe could finally bring Japan salvation from its steadily failing economy.



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