Japan Should Lead International Rule-Setting to Pursue National Interest
March 23, 2012
Participation in the Trans-Pacific Partnership initiative will provide the chance to refresh the stagnant atmosphere of Japanese society and to revive the Japanese economy. Until now, Japan has passively accepted rules laid down by the international community, without actively contributing to rule-setting. This time around, participation in TPP negotiations could give Japan the opportunity to exercise leadership in setting international rules for the first time.
Japan’s announcement of an intention to enter TPP negotiations prompted Canada, Mexico, the Philippines and Papua New Guinea to express their wish to join the initiative, too, preparing the ground for the creation of an economic area accounting for around 40% of the global gross domestic product (GDP). It is obvious that even China can no longer afford to sit on its hands as the effort to promote trade liberalization gains momentum.
Japan’s postwar prosperity would have been impossible without the benefits of trade liberalization. For Japan to attain further economic development, we must create a fair and free economic area in the Asia-Pacific region. If Japan and the United States closely cooperate with each other on both economic and national security fronts, it will lead to sound development of the Asia-Pacific region. It will also make China think twice before ignoring international rules. The TPP is a strategic and landmark initiative that will serve these purposes.
Now is the time to discuss forward-looking strategies for reviving the Japanese industry as a whole, including manufacturing and agriculture. All of us Japanese must look beyond the issue of whether or not to join the TPP and work together for the cause of promoting Japan’s national interest.
【Proposals】
1. Expand exports to and investments in foreign markets by joining the TPP and lay the foundation for the revival and sustainable growth of the Japanese economy.
2. The TPP will provide a golden opportunity for Japan to take part in the building of a global economic order with an eye to future creation of the Free Trade Area of Asia-Pacific (FTAAP), so participation in this partnership initiative is essential to Japan’s national interest. Strengthen the Japan-U.S. alliance and regain a leadership position in Asia through the process of having international rules entrenched in the market economy.
3．Negotiations critical to national interest must be backed by the weight of wide public support. Promote debate on forward-looking strategies that will revive the Japanese industry as a whole, including manufacturing and agriculture.
