Japan Publishes Document Claiming Military Security Concerns in Asia

Japan finds itself surrounded by a worsening security environment as North Korea pushes forward with missile development and China and Russia step up military activity in the region, Japan’s Defense Ministry said on Tuesday.

The ministry’s annual white paper comes after intermittent testing by North Korea of ballistic missiles in defiance of a U.N. ban, and a record number of scrambles by Japanese fighter jets in April-June due to increased flights by Chinese and Russian planes close to Japan’s air space.

“With a trend toward arms buildup and modernization, and brisker military activity by neighboring countries getting prominent, security challenges and destabilizing factors for Japan and the rest of the Asia-Pacific are becoming more serious,” the ministry said in the paper.

Prime Minister Shinzo Abe returned to power in December 2012 intent on easing the limits of the post-war pacifist constitution on the military to let Japan play a bigger global security role.

Abe’s government this year took some historic steps away from Japan’s post-war pacifism by easing weapons export restrictions and ending a ban that has kept the military from fighting abroad.

The moves have been viewed warily elsewhere in Asia, in particular in China. Ties between China and Japan were already strained by a territorial dispute over a group of tiny East China Sea isles as well as rows over the legacy of Japan’s wartime aggression. Patrol ships from both countries routinely shadow each other near the islands, stoking fear of clashes.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza