Government throws Japan's economic sovereignty away in the name of globalization

Japan's "White Paper on International Trade 2002" recommends multinational corporations to focus on the East Asian region as the major source of profits.

The White Paper, published on June 25 by the Ministry of Economy, Trade and Industry, encourages major corporations to engage in more cross-border activities, but stops short of mentioning anything about the problem of the hollowing-out of Japan's domestic industries caused by shifting plants abroad.

Although job opportunities, small- and medium-sized enterprise (SME) operations, and local economies in Japan are shrinking, the White Paper fails to suggest any policy recommendations to regulate arbitrary corporate restructuring that involves personnel cuts and subcontractor cut-offs.

Based on the idea that multinationals are protagonists of the economy, the White Paper proposes speeding up domestic deregulations.

Akahata of June 26 stated that what the government report suggests is to abandon Japan's economic sovereignty, and emphasized the need to establish a policy to press large companies to take responsibility for restoring stable employment and defending local economies. (end)