Massive Increase In Defence Spending As Tokyo Seeks To Counter China, NK

The Japanese gov't announced earlier today its plans to significantly increase military spending in 2023, with an additional JPY6.82trn (USD51.7bn) to boost defence expenditure by a quarter in an effort to counter a growing Chinese military presence in the Indo-Pacific as well as a more belligerent North Korea.

• Reuters reportsthat the package will include USD1.6bn to purchase US-made Tomahawk cruise missiles. This marks a major step for the Japanese Self-Defense Forces as these would be the country's first overtly offensive rather than purely defensive weaponry.
• The sustained increase in defence spending is set to see military spending rise from 1% to 2% of GDP in five years, a move that will see Japan become the third-largest spender on its military in the world in nominal terms behind the United States and China.
• A more militarily capable Japan could see tensions between Tokyo and Beijing heighten, but the move is seen as a crucial one for the gov't of PM Fumio Kishida.
• Although the US remains a major military power in the Indo-Pacific, there remain concerns about whether a future change in White House administration could see the US become more isolationist, particularly if it came to attacks on Japan from China or North Korea (i.e. would the US launch military attacks on the aggressor).