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The fight to finance Japan’s historic defense splurge

Japanese Prime Minister Fumio Kishida’s administration dramatically increased Japan’s 2023 defense budget by 26.3% in 2022 to 6.82 trillion yen (US$52 billion). During former prime minister Shinzo Abe’s leadership, the defense budget steadily increased to 5.3 trillion yen ($39 billion) but stayed between 5-5.2% of the whole government budget. Kishida has now increased the defense […]

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