Overview Of Economic Security Legislation In Japan

1. BACKGROUND

In addition to the trade conflict between the U.S. and China, recent events including the COVID-19 pandemic and the Russian invasion of Ukraine have further heightened interest in economic security globally. Under such circumstances, the Cabinet of Japan approved the Economic Security Promotion Bill on February 25, 2022 and submitted the bill to the ordinary session of the Diet. The bill is expected to be passed during this session of the Diet.

Economic security is considered to be an economic measure to ensure the security of a country and its people¹. The Economic Security Promotion Bill consists of the following four pillars and such four pillars were positioned as economic measures for recent international situations regarding security at the expert advisory panel on economic security legislation (the "Expert Advisory Panel") organized in late November, 2021.²