Japan considers defense spending worth 3.5% of GDP after U.S. pressure
Japanese defense officials have already signaled a willingness to sharply increase defense spending in meetings with their U.S. counterparts.
Japan is considering a new mid-term defense spending target of 3.5% of GDP in line with NATO and other U.S. allies, a move that could send a shock wave through financial markets concerned about Prime Minister Sanae Takaichi’s spending plans.Japanese defense officials have already signaled a willingness to sharply increase defense spending in meetings with their U.S. counterparts, according to people familiar with the matter.One scenario under consideration is to match a commitment made by South Korea to increase defense spending to 3.5% of gross domestic product over 10 years, according to the people. A lower target, such as 3%, is also possible, according to one of the people.
Source: Japan Times
Related stories
AI can supercharge Putin’s goals, not his great-power ambitions
For now, though, Russia's AI capabilities are likely sufficient for the state's needs.
Drop in Chinese visitors drives decline in Japan’s inbound tourism in August
Japan received 3.1 million foreign visitors in August, down 9.6% from last year, according to estimates from the Japan National Tourism Organization.
Over 60% of Japanese firms with foreign workers would struggle without overseas hiring: survey
In nursing and healthcare, 93.8% of employers said not hiring more foreign workers would cause problems.
Trump has few good options to slow China’s rise as AI superpower
The main challenge for the U.S. is keeping China at bay without prompting Beijing to further restrict rare earths.