In an era when free trade is under threat, how can we uphold the principles of free trade and ensure economic security? Suzuki Kazuto unravels the dilemma between the two.   The “weaponization” of the economy and the rise of economic security Free trade is in crisis. The Trump administration’s tariff policy aims to rebuild trade by placing “fairness and balance” above economic efficiency. For the United States, this means that a growing trade deficit through free trade is “unfair,” and rebalancing is important. Therefore, the US uses tariffs to reduce imports from other countries. If imports are required, the revenue generated from tariffs can be used to recover lost wealth. Whether this policy will produce the results President Trump claims and what impact it will have on the American economy is impossible to predict. Nevertheless, it is clear that this tariff policy ... ... [Read more]

The LDP’s difficulties will continue in the next election As of this writing, the Liberal Democratic Party (LDP) has not yet chosen a new president. However, by the time this issue of Chuokoron is published on October 10, 2025, a new government will have been formed under the new president, and the LDP will likely have high expectations.[1] Nevertheless, the new president’s popularity and the LDP’s recovery in approval ratings may not endure this time. The LDP’s poor performance in both the Lower House general election in October 2024 and the Upper House regular election in July of this year is due to tectonic shifts in Japanese politics. The LDP’s inability to respond adequately to these shifts is at the heart of the problem. Throughout its history, the LDP has typically recovered in the following election, even if it performed poorly in either the ... ... [Read more]

Supply chain management to prepare for geopolitical incidents requires strategic thinking, where predicting the reaction of geopolitical competitors is essential to designing effective countermeasures. Deterrence is the key for promoting supply chain resilience Friend-shoring is a double-edged sword Risk can be alleviated by trust-building through inter-firm networks across national borders With looming uncertainty in the global business environment, the pursuit of economic efficiency is increasingly associated with supply chain vulnerabilities. “Resilience” became a keyword in supply chain management and now forms the core aspect of economic security. Supply chain vulnerabilities are attributed either to (1) physical risks, (2) cyber risks, or (3) geopolitical risks.[1] Physical risks include those of natural hazards, climate change, and pandemics. Cyber risks are represented by malicious attacks on critical infrastructure or theft/leakage of confidential data, while nowadays the disinformation maneuver using generative AI is gathering sharp attention. Geopolitical risks ... ... [Read more]

War has thrown the international order into flux. The search for a multipolar order centered on various “Souths” has begun. Key Points: The presence of emerging powers, which sometimes surpass developed nations, is growing. New, regionally driven frameworks for conflict management are emerging and warrant closer scrutiny. Japan should consider shifting away from “American dominance” and toward “diversification.” Wars and hostilities frequently erupt across Eurasia, from Ukraine to the Middle East, India and Pakistan, Thailand and Cambodia. After occupying and annexing the Crimean Peninsula in 2014, Russia’s fighting in eastern Ukraine escalated into a full-scale invasion in 2022. This aggression continues to this day. On October 7, 2023, Hamas attacked Israel. Israel subsequently retaliated by extending its attacks beyond Gaza to include pro-Iranian forces, such as Hezbollah. Israel also launched military strikes on Iran, targeting its nuclear program. The Middle Eastern order has undergone ... ... [Read more]