Japan's Military Budget to Hit Record $58 Billion Amid China Tensions

Japan's cabinet has approved a record-breaking state budget for the next fiscal year. The total draft budget is $783 billion, the largest in the country's history. A significant portion of this budget is for defense. Japan plans to spend over $58 billion on its military in fiscal year 2026. This is also a historic high. The major increase in military spending is a direct response to growing regional tensions. Japanese officials have named China's expanding military power as a primary concern. North Korea's missile tests are another key reason for the budget boost. This move continues a major shift in Japan's defense policy. For decades, Japan limited its military spending to about 1% of its economic output. The new budget breaks that pattern, aligning with a plan to double defense spending by 2027. The budget draft must now be approved by Japan's parliament. It is expected to pass in the coming months.