{"id":30212,"date":"2022-08-05T15:00:35","date_gmt":"2022-08-05T08:00:35","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=30212"},"modified":"2022-08-08T10:53:17","modified_gmt":"2022-08-08T03:53:17","slug":"japan-the-us-strengthen-economic-security-through-commercial-diplomacy","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/japan-the-us-strengthen-economic-security-through-commercial-diplomacy\/","title":{"rendered":"Japan &#038; the US strengthen economic security through commercial diplomacy"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The two countries will establish a new joint research centre geared toward next-generation semiconductors<\/span><\/p>\n<figure id=\"attachment_30213\" aria-describedby=\"caption-attachment-30213\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-30213\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_609313106.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_609313106.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_609313106-400x267.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_609313106-600x400.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2022\/08\/shutterstock_609313106-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-30213\" class=\"wp-caption-text\">Countries such as the United States and Japan have increased investment in chip production. Blue Planet Studio\/Shutterstock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Japan\u2019s economy saw growth on the back of solid consumer spending in face-to-face services.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From April to June, Japan\u2019s economy grew at 2.5 percent YoY, recovering from a 0.5 percent contraction in Q1, according to <\/span><a href=\"https:\/\/www.cnbc.com\/2022\/08\/05\/japans-economy-likely-rebounded-in-second-quarter.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CNBC<\/span><\/a><span style=\"font-weight: 400;\">. In Q2, growth was mostly driven by private consumption, which was forecast to increase by 1.3 percent. More than half of Japan&#8217;s GDP is derived from this.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Saisuke Sakai, senior economist at Mizuho Research and Technologies noted that recovery will slow down from July until September on the back of the renewed COVID outbreak, along with other risk factors, including inflation and the state of the global economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the intention of countering China\u2019s rising economic and military power, the governments of Japan and the United States have voiced their motives regarding economic security. The two countries aim to closely collaborate through commercial diplomacy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The two countries will establish a new joint research centre geared toward next-generation semiconductors.<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/japans-move-toward-greener-data-centres\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Japan\u2019s move toward greener data centres<\/strong><\/a><\/p>\n<p><span style=\"font-weight: 400;\">In contrast to Japan, which excels in semiconductor manufacturing machinery and components, the United States is strong in chip design and development, reported <\/span><a href=\"https:\/\/www.reuters.com\/world\/us-japan-pursue-commercial-diplomacy-counter-china-envoy-tokyo-says-2022-08-01\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Reuters<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Japan has additionally stated that it will provide up to JPY92.9 billion (USD700 million) to Western Digital Corp. and partner Kioxia Holdings to increase memory chip production at a plant in Japan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Panasonic Holdings Corp, a supplier for Tesla, chose Kansas as the location for a new battery plant last month. According to Rahm Emanuel, former mayor of Chicago, the agreement was reached after U.S. w President Joe Biden spoke with representatives of Panasonic during his stay in Japan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Countries such as the United States and Japan have increased investment in chip production. This is due to concerns regarding the conflict between China and Taiwan, which produces the vast majority of semiconductors under 10 nanometres used in smartphones.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">The Property Report editors wrote this article. For more information, email: <a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noopener\">propertyreport@propertyguru.com<\/a>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two countries will establish a new joint research centre geared toward next-generation semiconductors<\/p>\n","protected":false},"author":12,"featured_media":30213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[464,2602],"class_list":["post-30212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-economy","tag-semiconductors","news_country-japan","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Japan &amp; the US strengthen economic security through commercial diplomacy | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/japan-the-us-strengthen-economic-security-through-commercial-diplomacy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan &amp; 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