1. Highlights of the White Paper

The White Paper on International Economy and Trade 2026 mainly presents the following analysis findings:

1. In recent years, the global economy has faced unprecedented levels of uncertainty, making the building of resilient supply chains an urgent priority. For this reason, it is important to mitigate risks by exploring new markets and diversifying procurement sources. Building strong relationships with emerging economies is particularly critical, given their rapid growth driven by rising populations and abundant critical mineral resources.

2. Meanwhile, China's expansion into emerging markets has been remarkable, with ASEAN countries increasing their dependence on China for intermediate goods imports. Furthermore, moves toward economic partnership are currently underway among both developed and emerging economies, and the importance of building a new international order led by like-minded nations is growing.

3. Under the circumstances, it is important for Japan to secure the funds necessary for crisis management and growth investment through foreign direct investment and exports. In particular, Japan’s opportunity for success lies in addressing the challenges facing emerging economies. It is crucial to advance initiatives that leverage Japan’s strengths, such as strengthening supply chains including energy based on technological capabilities; real estate investments, such as developing industrial parks and urban infrastructure which facilitate the expansion of Japanese companies including SMEs into these markets; and implementing new technologies through the deployment of startups specializing in fields like AI.

2. Highlights of the International Trade and Economic Strategy 2026

Based on the analysis made in the White Paper on International Economy and Trade 2026, the following targets and direction of the trade strategy that should be pursued by Japan are indicated in the paper:

Targets

Even as the world shifts from an era of neoliberalism aimed at a single global market to one where state involvement and security are prioritized amid potential fragmentation, Japan will continue to pursue trade strategy goals aimed at remaining a reliable economic partner and maximizing its global added value by resolving global issues. Through these efforts, Japan will contribute to the realization of the Free and Open Indo-Pacific (FOIP) and to growth strategies which will allow for the mutual prosperity of Japan and the world.

Direction

To navigate the challenging international environment, the current direction of Japan’s international trade and economic policy can be summarized in the following three points:

1. Japan will continue to be a reliable economic partner and a nation that connects a multipolar world. While managing immediate issues such as relations with the United States and China, Japan will promote a hybrid trade strategy that advances initiatives based on free trade and the rule of law.

2. By leveraging the Asia Zero Emission Community (AZEC) and the Partnership on Wide Energy and Resources Resilience Asia (POWERR Asia), Japan will connect the Middle East and Asia, both of which desire stable energy markets that do not succumb to economic coercion. Japan aims to build a truly free, mutually beneficial, and “trusted economic sphere” that includes major powers. Japan will achieve this by building new supply chains through which oil-producing and consuming nations cooperate to enhance energy supply-demand resilience, and by leading the formulation of rules, including those for crude oil stockpiling, thereby accelerating global strategic investments that enhance resilience and investments that promote growth.

3. Regarding the strengthening of cooperation with the Global South, which is one of the keys to embodying the update of FOIP, while aligning with regional strategies and a roadmap for public-private investment for the 17strategic fields, Japan will aim for (1) project commercialization; (2) expansion of the base of business operators and implementing countries; (3) horizontal expansion of projects; and (4) creation of a common knowledge base through academic collaboration with Global South nations, which will serve as the foundation for these efforts.

3.  White Paper on International Economy and Trade 2026 Table of Contents

Table of Contents

Part I The Global Economy and Emerging Economies Amidst Turmoil

Chapter 1　Global Economy Amidst Turmoil

Chapter 2　The Growing Importance of Emerging Economies

Chapter 3　Analysis of Emerging Economies

Chapter 4　Policy Trends in China, Europe, and the United States

Chapter 5　Japan's International Trade and Economic Strategy

Chapter 6　Overview of the Global South Future-Oriented and Co-creation Project

Part II　Global Economic Trends

Chapter 1 Trade and Economic Trends of Major Countries

Chapter 2 Trends in the Current Account and Direct Investment Inflows and Outflows

Part III Policies

Chapter 1 Japan’s Efforts and Initiatives in Fiscal 2025    

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