Japan OKs new budget incl. hefty arms cost to deter China

News Summary

  • TOKYO (AP) — The lower house of Parliament approved Tuesday a budget for the coming fiscal year that includes a record 6.8 trillion yen ($50 billion) in defense spending, part of Japan’s effort to fortify its military as China’s influence in the region grows.
  • Passage of the 114 trillion yen ($836 billion) budget by the lower house of parliament, the more powerful of its two chambers, ensures it will be enacted by the end of March regardless of any decision by the upper house.
  • “The improvement of childcare has been neglected for more than 10 years,” Chinami Nishimura, a lawmaker with the opposition Constitutional Democratic Party of Japan, told a lower house budget committee meeting Tuesday.
  • “Why did the budget for spending so much money on Tomahawks get approved so quickly?” “I don’t think it’s about choosing between one or the other,” Kishida responded.
  • Military spending is due to nearly double within the next five years as Japan builds up its defenses in response to potential threats from China, North Korea and Russia.
  • On Tuesday, government-backed chip maker Rapidus announced plans to build a new semiconductor plant in Chitose on the northern main island of Hokkaido.
TOKYO (AP) The lower house of Parliament approved Tuesday a budget for the coming fiscal year that includes a record 6.8 trillion yen ($50 billion) in defense spending, part of Japans effort to forti [+4151 chars]