New Trends in Japan's“Indo-Pacific”Strategy

Introduced by the late Prime Minister Shinzo Abe and inherited and developed by Fumio Kishida,Japan's“Indo–Pacific”strategy has gradually taken shape.This strategy can be deemed a broad vision,covering a wide range of topics and an extensive network of partners,with a strong trend of pan-securitization.It is a comprehensive inter national st rateg y based on Japan's alliance policy and China containment strategy,following a global,security-oriented approach.Driven by considerations such as maintaining its economic status,realizing its long-cherished dream of becoming a political powerhouse,and containing China,Japan has stepped up its“Indo–Pacific”strategy,which may influence global development,undermine regional maritime security,and impede China's reunification process.Meanwhile,Japan's“Indo–Pacific”strategy faces the triple challenge of a strategic overdraft,the unstable economic foundations,and the weak external support.These constraints may not suffice to reverse the direction of Japan's“Indo–Pacific”strategy in the short term but will limit its effectiveness.

美日韩合作升级加剧地区紧张

In 2023, the United States, Japan, and South Korea continued to strengthen their strategic cooperation posture by attempting to control rule-making authority and pursuing the use of strength to gain strategic advantage. This has exacerbated regional tensions in Northeast Asia and increased camping confrontation.

Measures and Strategic Conception of Japan to Deal with the Russia–Ukraine Crisis

After the outbreak of the Russia–Ukraine conflict, Japan wasted no time in advancing its national strategy and actively promoted shuttle diplomacy with the United States(U.S.), Europe, East Asia, and neighboring countries of Ukraine around sanctions against Russia based on strategic considerations and the goal of maximizing national interests. Japan regarded this conflict as an important opportunity for an international strategic game, in an attempt to move and overturn the postwar international order and reconstruct the new global order with the U.S., Europe, and Japan as the core countries dominating the military, science and technology, and economic spheres. In response to the crisis, Japan made a brief policy adjustment—from the initial hesitation to the imposition of active sanctions and pressure on Russia—to reverse the passive situation on the issue of the Four Northern Islands and weaken Russia’s strength. Japan also took the opportunity to promote the “China threat theory”;strengthen the quadrilateral mechanism between the U.S., Japan, India, and Australia;provoke regional confrontation;and try to gain a new Cold War dividend.

Japan’s Perspective of the International Order and Foreign Policy Adjustments in the Context ofCOVID-19

The COVID-19 pandemic has accelerated transformation of the international order.In Japan,views on the future of the international order are diverse,which are manifested most clearly among senior government officials,economic experts,think tank elites,and scholars.In order to adapt to the changing international order,Japan has adjusted its foreign policy surrounding the Japan-US relations.In a bid to maximize its own interests,Japan is trying to improve preparedness for the future of the international order with the premise that Japan-US alliance will be strengthened.Japan’s policy toward China has been deeply impacted by the pandemic,as evidenced by the significant volatility during the pandemic.Faced with the adjustments in Japan’s foreign policy and the growth of its intention to contain China’s development,China should respond with an open,rational,and confident attitude.

Analysis of the US-ROK Alliance’s Cooperation Related to China

Since the Biden administration took office,the US–ROK alliance has significantly increased China-related factors.Moreover,its China-related cooperation has expanded to several key areas of strategic competition between China and the United States,such as the Taiwan Strait,the Asia-Pacific,economy,science and technology,and international order.The enhancement of China-related cooperation by the US–ROK alliance is a result of the promotion of the United States,the adjustment of the foreign policy of South Korea,and the internal development of the US–ROK alliance.In the future,the United States and South Korea will maintain the momentum of this China-related cooperation,which will place immense pressure on China.However,the US–ROK alliance is facing constraints in this regard,because South Korea remains hesitant to follow the United States to contain China.Conversely,China continues to hold a large policy space to meet the challenges of the US–ROK alliance.

New Trend of Japan's Economic Security Strategy

Japan's economic security strategy has a long history.However,Japan has significantly accelerated its economic security strategy in recent years,especially since the Kishida government came into power.At present,Japan is gradually forming a comprehensive economic security strategy that has clear strategic objectives,sound institutional settings,enhanced economic control,and closer external cooperation.The Japanese government is accelerating its economic and security strategy because of the changing international environment and Japan's own strategic considerations.Japan hopes to achievemany strategic goals such as improved economy and security through its economic and security strategy,but its strategic effect needs to be verified due to the constraints of many factors.

日元汇率波动新态势

Concurrent with the interest rate hike by the Federal Reserve(Fed) at the beginning of 2022, the Japanese yen entered a fast track to depreciation. Since November 2022, however, as the Fed slowed its tightening pace and as the Bank of Japan(BoJ)tweaked its monetary policy, the yen has regained some of the ground it lost. Overall, the yen has been characterized by strong volatility. The primary factor driving the fluctuations of the yen in the short term is the widening United States–Japan interest rate differential. From a mid-to-long-term perspective, the underlying reason behind the exchange rate movements of the yen is the BoJ’s monetary policy and the Japanese economy’s structural changes.The fluctuations of the yen are a mixed blessing for the Japanese economy;in the long run, however, they will do more harm than good. As for the world economy, turbulent yen fluctuations may trigger a fresh round of currency competition and disrupt the financial markets. Looking ahead, for long-term healthy economic development, Japan needs to cut down on its exchange rate dependence and restructure and upgrade its economy.