Japan in Regional Integration: Problems, Challenges, and Prospects
The integration processes can alleviate a variety of challenges and risks of globalization. They help countries to consolidate their economies for jointly confronting the economic and financial crises and to join forces for solving global problems that are practically unsolvable alone, even for the largest and most economically powerful states. Integration processes contribute to the liberalization of trade and economic relations between states, to the removal of protectionist barriers, and to the facilitation of free trade. Japan, with its traditionally closed markets compared to other economically developed countries, has continuously treated the issue of participation in integration processes with great caution. Possessing a wide spectrum of well-established international economic relations, the country was in no hurry to abandon some protectionist measures. However, in the 21st century, a new trend is becoming more evident, that is, Japan’s more active participation in various formats of integration processes in the East Asia and the Asia-Pacific region. The purpose of this paper is to address the issue of “the new generation” integration agreements in the region (Trans-Pacific Partnership and Regional Comprehensive Economic Partnership, which evolved from ASEAN + 6, a multilateral format of interaction between Japan and ASEAN), and the role of Japan in the process of their formation. The article analyzes the degree of Japan’s involvement in these heterogenic formats of regional cooperation, and its main motives for participation. The author attempts to ascertain whether Japan’s growing activities could be attributed to its interest in supporting regionalism or to its aspiration to self-involvement in the integration processes. The article examines the process of development of the RCEP project in recent years and Japan’s attitude to this issue. The author tries to characterize the role played by Japan in maintaining the TPP after the US withdrawal from the Partnership and to analyze trade and investment cooperation of Japan with the TPP member countries in 2017-2019.