In recent years, there has been an emergence of economic nationalism in Japan, characterized by a growing focus on protecting domestic industries and promoting self-sufficiency. This has been driven by a number of factors, including:
Increasing competition from other countries: As the global economy becomes more interconnected, Japan has faced growing competition from other countries, particularly in areas such as manufacturing and technology.
Fear of economic dependence on other countries: Japan has long been dependent on foreign countries for natural resources, and this dependence has been seen as a vulnerability in times of crisis such as natural disasters.
Economic stagnation: Japan’s economy has been in a state of stagnation for several decades, and many in the country feel that protectionist policies are needed to help revive the economy.
National security concerns: Japan’s geopolitical environment has been changing, as well as the tensions with neighboring countries, and the government has been increasingly focused on ensuring that it has the capability to produce key goods and services for national security purposes.
Changes in government: the emergence of a new government that is more focused on the protection of the domestic economy and industries.
As a result, Japan has implemented a number of protectionist policies, such as tariffs on imports and subsidies for domestic companies. The government has also been investing in technology and infrastructure to promote self-sufficiency and reduce dependence on other countries.
It is worth noting that Japan is still a major player in the global economy, and it continues to maintain strong trade and investment relationships with other countries. And Japan is also aware of the importance of free trade, and to a degree, has been balancing between the promotion of domestic industry and the participation in the global economy.
In summary, there has been an emergence of economic nationalism in Japan, driven by a desire to protect domestic industries and promote self-sufficiency in the face of increasing competition and concerns about economic dependence. However, Japan’s economy is still a major player in the global economy, and the country has been taking a balanced approach in the promotion of domestic industry and the participation in the global economy.
