Onus on Japan to boost regional trade

A special session of the Japanese Diet, or the national legislature, is likely to be held on Dec 24 to choose a new prime minister, and if re-elected to the post, Shinzo Abe needs to change his provocative military and foreign policies in order to revive Japan's sagging economy. This is important because without closer cooperation with China and the Republic of Korea, he cannot achieve the goal.

An official survey in Japan showed Japanese people's antipathy toward China and the ROK has reached record levels, which is not conducive to the revival of the country's economy. Therefore, Japanese politicians have to take concrete measures to change Japanese people's wrong perceptions about neighboring countries, and they could start by promoting trade talks.

According to a Japanese think tank report issued a few years ago, the establishment of a free trade area (FTA) with China would help Japan's GDP grow by 0.68 percent, much more than the additional growth FTAs with other countries could spur. For example, the report said, the US-Japan FTA could only push up the Japanese economy by only 0.35 percent while the Trans-Pacific Partnership will add 0.54 percent growth.