ChinaTalk Japan's Economic Security Renaissance
Apr 10, 2024
Kazuto Suzuki, a Professor at the University of Tokyo and advisor on Japan’s economic policy, dives into the nation's evolving economic security landscape. He discusses Japan's new national security laws and their impact on global semiconductor supply chains. Highlights include historical lessons on economic coercion, the interplay of Japan's export controls with U.S. demands, and ambitious plans for space commercialization. Co-host Arrian Ebrahimi adds insights on the geopolitics of East Asia, making this a compelling conversation on economic resilience.
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Rare Earth Embargo
- In 2010, China halted rare earth mineral exports to Japan after a maritime incident near the Senkaku Islands.
- This incident highlighted Japan's vulnerability to economic coercion and sparked initial economic security concerns.
Risk Mitigation Over Enthusiasm
- There's a growing sense of caution, not enthusiasm, driving Japan's economic security policy.
- Businesses and politicians prioritize mitigating risks from economic coercion, even if it means sacrificing short-term gains.
Semiconductor Export Controls
- US pressure helped Japan justify semiconductor equipment export controls to China to stakeholders.
- However, the primary driver was fear of China's economic coercion, not simply hiding behind the US.