“Japanese lawmakers lock horns over TPP”
Theme: Japan’s involvement in the Trans Pacific Partnership
What
Deliberations over the Trans-Pacific Partnership free trade agreement have begun amongst Japanese lawmakers, who are divided as to whether the proposes deal would be beneficial to Japan. The Abe administration is in favor of the deal, which covers 40% of the world’s economy, but the opposition Democratic Party as well as the Japanese Communist Party has attacked it saying that the government has underestimate the potential damage to Japan’s agriculture and fisheries, as well as for a lack of clarity as to how negotiations took place. Japan has already signed up to the agreement with 12 countries in February this year, but it must be ratified in the Diet to come into effect. Notable in its absence from the TPP group is China.
Who
Lower House lawmakers from all parties. Especially significant is the Akira Amari, the former top TPP negotiator for Japan who was involved in numerous TPP negotiations with partner countries but who resigned in February in a money-for-favors scandal. Lawmakers opposed to the TPP say that without Amari being available for questioning in the Diet, finding answers to the many questions concerning the TPP will not be possible.
Why
The TPP is one of the most ambitious free trade agreements ever created, aiming to deepen economic ties between partner nations, reducing tariffs and promoting trade. Particularly contentious in Japan is the impact the deal will have on agriculture and fisheries, with critics saying that these sectors will be unable to compete on price with cheap foreign imports, leading to the decline of domestic production and a negative impact on communities involved with them.
When
The TPP was signed in February 2016, and must be ratified by the end of the year to come into force.
Where
The TPP covers Japan and 11 other countries (Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, United States, Singapore and Vietnam). Deliberations over the ratification of the TPP are currently ongoing in the Japanese Diet, and will likely dominate debate there until the end of the current session in June.
How
The TPP has its origins in a 2006 trade agreement between Singapore, New Zealand, Chile and Brunei (the “Pacific 4”). The U.S., Australia, Peru and Vietnam joined talks in 2010, seeing the prospect of a rules-based international order in Asia. Then Malaysia, Mexico, Canada came on board, as well as Japan which joined last. China was effectively and deliberately excluded, and it has launched its own “Silk Road” initiative to create a rival economic zone which will support its priorities. Japan’s involvement has been fiercely attacked by sectors of society who think they will be adversely affected in a new, tariff-free trading block, but PM Abe sees it as a crucial part of his wider economic policy (dubbed “Abenomics”).
Sources
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