Japan doesn’t really have a choice does it? Not as an economy based on mercantilism (Japan’s governmental highly regulated economy for the purpose of augmenting Japan’s state power at the expense of rival national powers). So Japan needs to be carefully observing relations with Russia and Europe as the American empire continues its present decline. Japan’s most carefully protected and source of its largest revenue are car sales. Once car sales are compromised Japan would face economic catastrophe, at least its major car manufacturers. Without car manufacturing there wouldn’t exist a “Japanese economy.” Note Shinzo Abe defending globalization yet remains very protective of Japan’s economy, for example on agriculture imports. So, it’s EU cheese for cars. Between Japan and the EU they account for “19 per cent of global gross domestic product and 38 per cent of goods exports”. For Japan it is mostly a one way street.
China is the most brazen player of one-way free trade. Free for us but not for you. The US ran a “$273 billion deficit with China in 2010, but also ran an $80 billion deficit with the European Union and a $60 billion deficit with Japan.” Doesn’t seem the US manufacturers much the Japanese want, except perhaps weapons. This is going to be significant for Japan as its population continues shrinking. It also means as Japan experiences less skilled people in its work force because of a shrinking population, that will continue to place pressure on Japan’s automobile manufacturers to continuing building more cars outside of Japan.
Source: RT News
EU & Japan strike free trade deal, challenging Trump
July 6, 2017
After nearly four years of negotiations, the European Union and Japan have signed a trade agreement, opening up each other’s markets. The deal aims to support global trade in the wake of rising protectionism in the US.
The agreement was concluded by Japan’s Prime Minister Shinzo Abe and European Commission President Jean-Claude Juncker in Brussels on Thursday, a day before G20 leaders meet in Germany.
“We did it. We concluded EU-Japan political and trade talks. EU is more and more engaged globally,” European Council President Donald Tusk tweeted.
We did it. We concluded EU-Japan political and trade talks. EU is more and more engaged globally. Global Europe! pic.twitter.com/GhsRT2QihH
— Donald Tusk (@eucopresident) July 6, 2017
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