European Parliament Library

Trade and economic relations with Japan, assessing the hurdles to the FTA : policy briefing

Label
Trade and economic relations with Japan, assessing the hurdles to the FTA : policy briefing
Index
no index present
Literary Form
non fiction
Main title
Trade and economic relations with Japan
Medium
electronic resource
Oclc number
1232971579
Sub title
assessing the hurdles to the FTA : policy briefing
Summary
Japan's recent economic performance is generally described as unattractive, particularly when compared to its growth twenty years ago. Yet perhaps the glass is half-full rather than half-empty: the Japanese economy still ranks third in the world after the US and China, living standards are high, and the country has recovered well from the 2011 earthquake, given the scale of the disaster. Yet Japan faces tremendous challenges, including economic stagnation, a high fiscal deficit and an ageing population. The 2011 catastrophe undermined the revitalisation programme that had been launched, although it also created a sense of urgency to move forward with reforms. Opening the country to competition from the outside is integral to its rebirth strategy, and the free trade agreement (FTA) with the EU would contribute to that opening. Though consultations on the ambition of the accord have been finalised, its success is uncertain. A number of stakeholders in the EU are sceptical of the benefits and of Japan's readiness to implement commitments, especially on non-tariff barriers. Yet others believe that if Europe postpones the process at a moment when it faces economic slowdown, the delay will send a negative signal to a country that is an important trade partner and investor
Classification
Mapped to