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Japan minister calls for new world order to counter rise of authoritarian regimes

WASHINGTON (Reuters) - Japan's trade and industry minister said on Thursday post-Cold War free trade and economic inter-dependence had bolstered authoritarian regimes and urged...
Japan minister calls for new world order to counter rise of authoritarian regimes © Reuters. FILE PHOTO: Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura arrives at Prime Minister Fumio Kishida's official residence in Tokyo, Japan August 10, 2022. REUTERS/Issei Kato

WASHINGTON (Reuters) - Japan's trade and industry minister said on Thursday post-Cold War free trade and economic inter-dependence had bolstered authoritarian regimes and urged the United States and other like-minded democracies to counter them with a "new world order."

"Authoritarian countries have amassed tremendous power, both economically and militarily," Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura said in a speech at the Center for Strategic and International Studies in Washington D.C.

"We must rebuild a world order based on the fundamental values of freedom, democracy, human rights and the rule of law," he added.

Nishimura spoke ahead of a visit to Washington next week by Japanese Prime Minister Fumio Kishida for talks expected to cover issues including Ukraine, North Korea and China's tensions with Taiwan. That summit will be preceded by talks between defense and foreign ministers of the two countries.

Kishida said this week he will discuss Tokyo's new security policy in Washington after Japan last month unveiled its biggest military build-up since World War Two.

Nishimura's call to arms comes amid growing concern in the wake of Russia's invasion of Ukraine that Beijing and Moscow will use their control over energy resources and sway over manufacturing supply chains to stop the United States, Japan, Europe and other from opposing their diplomatic and military goals.

Leaders from the Group of Seven industrialized nations are likely to discuss how to respond to economic coercion when they meet in May in the Japanese city of Hiroshima, Nishimura said.

"We might need to make preparations to identify the choke points of countries wanting to engage in coercion and then take countermeasures if necessary," he said.

The Japanese minister warned that democracies need to protect their industrial power and guard against the loss of technologies, particularly those that could be diverted to military use.

He urged that cooperation between Japan and the United States extend beyond semiconductors to biotechnology, artificial intelligence and quantum science.

He also promised to work more closely with Washington on export controls, although he didn't say whether Tokyo would match the sweeping restriction on exports of chip manufacturing equipment imposed by Biden's administration in October.

On trade, Nishimura encouraged the United States to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership after former President Donald Trump abandoned an earlier version of the pact in 2017.

He also said Japan will work toward an "early conclusion" of the Indo-Pacific Economic Framework for Prosperity launched by Biden in Tokyo in May as part of a push to bolster economic cooperation with 12 other countries in the region.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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EUR/USD

1.0658

-0.0008 (-0.07%)

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↑ Sell

Moving Avg:

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GBP/USD

1.2475

-0.0015 (-0.12%)

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Moving Avg:

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

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Buy (9)

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

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Buy (2)

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USD/CAD

1.3780

+0.0003 (+0.03%)

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↑ Buy

Moving Avg:

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EUR/JPY

168.32

+0.10 (+0.06%)

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↑ Buy

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

-7.10 (-0.31%)

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Silver Futures

26.677

+0.023 (+0.09%)

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Copper Futures

4.5305

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Crude Oil WTI Futures

81.14

-0.79 (-0.96%)

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Brent Oil Futures

85.62

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Natural Gas Futures

1.946

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US Coffee C Futures

213.73

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

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DAX

17,921.95

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FTSE 100

8,144.13

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Sell (4)

Hang Seng

17,763.03

+16.12 (+0.09%)

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Sell (6)

US Small Cap 2000

1,973.05

-42.98 (-2.13%)

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Sell (7)

IBEX 35

10,854.40

-246.40 (-2.22%)

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BASF SE NA O.N.

49.155

+0.100 (+0.20%)

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Bayer AG NA

27.35

-0.24 (-0.87%)

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Allianz SE VNA O.N.

266.60

+0.30 (+0.11%)

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Adidas AG

226.40

-5.90 (-2.54%)

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Deutsche Lufthansa AG

6.714

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Summary

Neutral

Moving Avg:

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Siemens AG Class N

175.90

-1.74 (-0.98%)

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Deutsche Bank AG

15.010

-0.094 (-0.62%)

Summary

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Moving Avg:

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Indicators:

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Sell (2)

 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật lúc 10:45:15 01/05/2024
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