Japan's recently announced new economic doctrine towards Asia has two dimensions. The first has Asean at its core. The second is all about broader Asia which includes China, South Korea and India without naming them. Indeed, this time Japan wants to ascertain that its new policy approach is the outcome of its own regional assessment based on more than five decades of developmental engagement with the region.
Ahead of his recent three-nation visit to Thailand, Singapore and Indonesia, Koichi Hagiuda, Minister of Economy, Trade and Industry (MITI), outlined a whole new approach with the so-called "Asia-Japan Investing for the future initiative". It deserves close scrutiny as it is not very often that Japan comes up with such a comprehensive and forward-looking policy aimed at uplifting ties and cooperation with recipient countries.
