Japan's Asia-Pacific Economic Strategy: Toward the Revival of the Japanese Economy.

Aside from serious impact from the COVID pandemic, the Japanese economy has been experiencing sluggish growth for several decades, and its future prospects are not favorable mainly due to the declining population. One effective way for Japan to revive its economy and achieve growth is to expand and intensify its economic relationship with foreign countries, especially those in Asia, which are projected to continue high economic growth. To achieve the objective, Japan has to play an important role in establishing, managing and upgrading a free, open, transparent, rules-based business environment in Asia-Pacific in the form of mega-FTAs such as the CPTPP and RCEP, now that the United States withdrew from the TPP and China is actively attempting to construct a business environment suitable to its trade and investment practices. Japan needs to cooperate with Australia, New Zealand, Canada and other countries that share common interests. [ABSTRACT FROM AUTHOR]