U.S.-Japan Economic Cooperation Under the Biden Administration

47
DOI: 10.20542/0131-2227-2023-67-12-28-34
EDN: GJHJKC
Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO), 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation.

Received 10.07.2023. Revised 09.08.2023. Accepted 09.10.2023.

Abstract. Since the post-war period, the development of U.S.-Japan relations has been determined by security cooperation and economic integration. As economic integration evolved, the United States and Japan became closely linked through the flow of goods and services, the movement of capital, and the joint implementation of R&D. The U.S.-Japan alliance is becoming more and more necessary for the United States in the context of strategic rivalry with China. Cooperation with Japan in the field of reinforcing and diversifying the GVCs important for ensuring US national security, as well as in the development of the most promising new technologies and the production of innovative knowledge-intensive products, is one of the top priorities for the Biden administration. Sectors that are considered strategic include the semiconductors industry, EV supply chains, certain categories of minerals and digital economy. Export control is another important part of the U.S. economic security policy where the Biden administration gained partial Japan’s support. The administration has been implementing strict export controls on “unfriendly countries” and at the same time creating a “tech alliance” with partners. Cooperation with Japan will play an important role in pursuing both goals. Digital transformation should help revitalize economic growth in the United States and in Japan, boost productivity and create new business opportunities. The importance of U.S.-Japan cooperation within the framework of the “tech alliance” will increase. The main areas of bilateral cooperation will be R&D (including such areas as artificial intelligence and quantum technologies), IT infrastructure development, training of skilled workers and creating a joint start-up ecosystem as a pillar of innovation, as well as encouraging the private sector to introduce advanced technologies.

Keywords: USA, Japan, economic security, GVCs diversification, industrial policy, semiconductor industry, digital transformation


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For citation:
Chudinova K. U.S.-Japan Economic Cooperation Under the Biden Administration. World Eonomy and International Relations, 2023, vol. 67, no. 12, pp. 28-34. https://doi.org/10.20542/0131-2227-2023-67-12-28-34 EDN: GJHJKC



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