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This article looks at the Japanese military. Japan's "Peace Constitution," which went into effect in 1947, expressly forbids the Japanese from ever having armed forces. Nonetheless, the Maritime Self-Defense Force or the JMSDF--like its counterpart ground and air self-defense forces created in the 1950s--is a significant power. The JMSDF rates as the fourth most powerful navy in the world. Overall, Japan ranks among the top three or four countries in defense spending. For years, Japanese dealt with this apparent contradiction by not talking about it much, at least publicly. Japanese troops were used mostly in natural disasters and accidents, mounting rescue operations after earthquakes and plane crashes. But then, in the early 1990s, Japan began sending the SDF on peacekeeping missions abroad, to places like Cambodia and Mozambique. In 1993 North Korea test-launched its Nodong-1 missile into the Sea of Japan. The provocation forced Japan to regard the Pyongyang regime as a serious threat. Public opinion, traditionally antimilitarist, began to shift. The North Korean threat--together with the 9/11 terrorists attacks on America and China's buildup of its forces--is pushing Japan to face up to the thorny question of just how much of a military it really wants. Last week the Japanese Defense Agency issued a white paper urging the transformation of the SDF into a "more functional force" to cope with the new threats. The paper emphasized better "mobility and flexibility" and warned that Pyongyang is likely to increase the range of its missiles. A serious discussion has begun about amending the Constitution to recognize a military role for Japan.

This publication contains 11 papers, all of which reflect the emphasis on literacy that continues to dominate adult education at the end of International Literacy Year. The papers include four presentations from conferences related to literacy held in 1990, one on literacy and peace held in Indonesia and one on literacy in China held in Macao. The 11 papers are: "Literacy and Peace Education: A Maori Viewpoint" (Te Ripowai Pauline Higgins); "The Consumer Movement's Efforts in Peace Building" (Joe Selvaretnam); "Fijian Literacy: Visions for a Literate Community" (Joseph Veramu); "Past, Present, and Future of Literacy Education in Korea" (Soon Chul Ko); "Education Is the Answer" (Catherine Tseng); "Why Adult Literacy?" (Inayatullah); "Literacy and Literacy Activities in Japan" (Ken Motoki, Mimoru Mori); "Strategies for Literacy and Functional Literacy" (W. M. K. Wijetunga); "Literacy and Peace Education" (A. T. Ariyaratne); "Weaving New Life" (Thailand Foundation for Women); and "The Intercommunity Roles of Adult Educators and Extension Workers" (James Draper). An annotated list of eight resources and a review of a book by Edwin Townsend-Coles on non-formal education in Botswana conclude this journal. (NLA)

This section offers world news briefs related to business as of May 1936. Japan is continuing with its plans for economic penetration on mainland Asia, which include the operations of Japanese shipping companies in Chinese waters. Brazil has completed the shipment of its first cargo of iron ore to Cardiff, Wales. The Soviet Union will send out a commission to study the production of typewriters abroad.

The article discusses how economic analysts foresee substantial business spending on inventories, equipment and software, which is supposed to propel the economy to full employment and inflation before long. The March job gains were generated in government, hospitality, retail, construction and health care. These sectors don't reflect the majority of American businesses, the ones that must restrain labor costs since they lack pricing power in a global world of surpluses. As the extra income from tax cuts and mortgage refinancing cash-outs fades, continuing layoffs will curtail consumer spending in this year's second half. In the 12 months through January, foreigners were net buyers of $318 billion in Treasurys, with Asians accounting for $209 billion. Foreigners owned $1.6 trillion in Treasurys as of January, or 37% of the total. The recent jump in foreign official Treasury holdings (see chart) also reflects the dollars the central banks buy to support the buck. China, with a dollar-pegged yuan, has to recycle all the U.S. currency generated by its trade surplus with America, plus the greenbacks brought in for direct investment there. Similarly, China can't abandon its dollar buying. It needs a strong dollar--a weak yuan, that is--to keep its exports competitive and to keep its underemployed population busy.

The article offers Asia news briefs as of May 2011. On May 1, 2011, China's government dropped an indoor smoking ban at public places. Naoto Kan, Prime Minister of Japan, has asked Chubu Electric Power Co. Inc. in Tokyo to shut down its two reactors. The World Wide Fund for Nature (WWF), a conservation group in Indonesia, has asked the companies to drop the plans of cutting the Indonesian forest areas.

The article discusses the growing profitability of Asian stock markets as of February 2011, and how such may improve those in the U.S. It states that market yields in the U.S. which used to provide returns of 15% to 20% in 2009, offer 6% to 8% in 2010. Junk bonds in Asia, however, especially those offered in Japan and China, were reportedly four times more in 2008 and 2009. This has attracted U.S. investors to the region. It is also hoped that Asian investors will develop an interest in U.S. stocks, which could speed the country's recovery further.