Land Disputes With China, Plus Local Economic Panic

Japan continues to pass aggressive measures in order to strengthen their economy as tension between Japan and China escalates. Same economic news as last week.

The most salient article was about a hostage siege in Algeria, in which nine Japanese citizens have been killed. Almost 70 people total are thought to have been killed in the crisis, after gunmen attacked and took over a gas factory. Algerian forces launched a counter attack, which lead to more deaths. Japan criticized Algerian officials for making that decision without first consulting the other nations whose citizens were captured.


Sources:

• BBC: Japan posts record high trade deficit in 2012 (23 Jan)
• BBC: Algeria hostage crisis: Japan confirms two more deaths (22 Jan)
• BBC: Japan agrees 2% inflation target and asset purchases (22 Jan)
• NYT: Japan Makes Overture to China in Islands Dispute (22 Jan)
• NYT: As Dispute Over Islands Escalates, Japan and China Send Fighter Jets to the Scene (18 Jan)
• NYT: Japan Logs Record Trade Gap in 2012 as Exports Struggle (23 Jan)

Politics And Bailouts

Japan's new prime minister didn't waste any time. After helping pass a huge stimulus package to reinvigorate the Japanese economy (creating 600,000 jobs?) he deployed off to Vietnam, Indonesia and Thailand in what his office calls "strategic diplomacy." Vietnam is also engaged with China in a territory dispute, so that is Abe's first stop.

It seems that Japan is trying to rally other nations against China, which some Japanese view as the cause of Japan's weakening economy. As the yen converges at a 100:1 exchange rate for the US dollar, there's no doubt the country is struggling.

Or is that a sign? In fact, Abe is intentionally weakening the yen in order to encourage exportation business.

Critics say these strategies won't compensate for the fact that Japan's coffers are "empty."

Sources:

• BBC: Japanese government approves $116bn stimulus package (11 Jan)
• BBC: Japan PM Shinzo Abe begins South East Asia push in Vietnam (16 Jan)

Volcanoes, Academy Awards, Politics and Economics

Japan seems to be going through a tense time, with a slew of international-relations issues relating to China and South Korea, and a marked comparison to the social progressiveness of S. Korea in comparison to Japan. For a largely demilitarized country, it's interesting that Japan chooses to boost their military budget.

The Fukushima nuclear disaster still a hot issue, but generally in the focus of Japan's nationalistic ability to rally and work together.

New Prime Minister Shinzo Abe, a member of the Liberal Democratic Party (LDP), has been criticized for singing the national anthem, some saying it's a symbol of Japan's past militarism and imperialism. Abe was Prime Minister for less than a year in 2006, before he resigned. Now he has won the most recent election and has just started his term. Actually, "Take Back Japan" (「日本を取り戻す」) was the LDP slogan for the most recent election. Abe sang Japan's de facto pre WWII national anthem, which has been replaced by a newer anthem for a long time. That newer anthem, however, was only given legal status in 1999, so some people still stick to the old one.

Interestingly, many Japanese scholars believe Mt. Fuju is going to erupt very soon. According to the article, Fuji-san's magma chamber has an internal pressure of 1.6 megapascals, higher than when it last erupted. Experts also believe the recent earthquake and tsunami (and repeated subsequent earthquakes since) are a big indicator of this as well.

Finally, costume designer Eiko Ishioka, who has died, was nominated by the American Movie Academy for an Oscar. Good for her.

International:

• S Korean man stabs himself at airport to protest arrival of Japan envoy
• Abe eyes statement that would supersede 1995 government apology
• New Japan PM: China's Island Dispute Moves 'Wrong'
• Japan to boost military budget amid regional tensions

Politics:

• Seoul may have female leader but Tokyo's is long way off: poll
• Even gangsters live in fear of Japan's gun laws
• Japan PM Abe sings national anthem as step to "take back Japan"

Other:

• Eiko Ishioka receives a posthumous Academy Award nomination
• In Japan, a Painfully Slow Sweep
• “Mt. Fuji Should Erupt by 2015”: Ryuku University Professor Emeritus
• Japanese police turn to polygraph to weed out sexually deviant applicants