Japan Approves Record Defence Budget Amid China Threats
Japan’s cabinet approved Friday a record defence budget of 5.4 trillion yen ($47.2 billion) for the year starting in April, as it seeks to bolster its ability to fend off threats from neighbouring China.
The figure marks the 10th straight increase in annual defence spending and exceeds a ceiling of 1% of the gross domestic product that the pacifist country has largely maintained for decades. The plan follows record defence spending in a supplementary budget passed by parliament this week.
China Summons Japan Envoy, Rips Abe for Taiwan Invasion Warning
Japan’s military budget is modest by comparison with its ally the U.S., at an estimated $778 billion for 2020, and China at $252 billion, according to the Stockholm International Peace Research Institute. The overall budget must be passed by parliament before it is officially enacted next year.
The U.S., Japan Reach Deal on Payments for Hosting American Troops
Ties between Japan and China turned increasingly chilly after Beijing’s clampdown on Hong Kong in 2020 and ships from both countries continue to chase one another around islands they both claim in the East China Sea. Japanese officials, including Prime Minister Fumio Kishida, have also become increasingly outspoken about the need to prepare for a contingency around Taiwan.
The current year’s extra budget and next year’s budget together include:
79 billion yen for space-related activities and 34 billion yen for cybersecurity projects, both up sharply on the previous year
More than 100 billion yen for the development of a next-generation fighter plane
About 128 billion yen for 12 Lockheed-Martin F-35 planes