The Japanese economy is feeling the fallout from the Russian invasion of Ukraine. But although rising import costs will sting, Prime Minister Fumio Kishida is making good use of the crisis so far, says petesweeneypro
Japan, the world’s fifth-largest energy consumer in 2019, relies heavily on fossil fuels, a condition exacerbated by its decision to turn off most of its nuclear reactors after a tsunami caused a meltdown in 2011. That forced a pivot to natural gas, which together with coal and oil compriseof energy consumption.
The natural gas crunch will accelerate Kishida’s push to re-open the country’s mothballed nuclear plants. That will alleviate the country’s dependence on imports and help it hit its carbon neutral target by 2050.read more No matter how the war turns out, Japan still faces serious challenges: economic, demographic and now, military. The tragedy in Ukraine can prod Tokyo to focus on solving them.CONTEXT NEWS