[Photo] Sento Imperial Palace In Kyoto
Prime Minister Yoshihiko Noda decided to join the TPP negotiation on November 18, however, this doesn't mean that the Diet will agree on the TPP treaty.
There are many anti-TPP groups who insist that this will destroy agriculture, health insurance, and protected industries.
According to a theory of economics, it is true that the TPP will reduce regulation, increase supply, and accelerate deflation.
Moreover, the Government didn't fulfill its responsibility to explain the benefits and non benefits of the TPP, and it's a matter of course that the Government was strongly condemned for this action. Even the NEW KOMEITO couldn't help but criticize the decision-making process of the government.
However, from my point of view, I don't necessarily oppose the TPP. Due to the yen's steep appreciation, production facilities can not help but move overseas, which has been termed the"hollowing out of industry". It is important for Japan to make a free trade accord with many countries.
In the near future, the TPP may urge China to open its market and remove barriers for trade and investment, which will lead to benefits for both China and the TPP groups. Actually, China insists on making a new economic group between the ASEAN plus 6 countries.
On the other hand, if the TPP intends to exclude China, China will become angry and may make a FTA with the EU.
Therefore, Japan should make every effort to expand free trade policies through the TPP.