BLUF
With public backing, Japan targets 2% GDP military spending by 2027: $433 billion over five years. (Australia $53 billion 23/24).Summary
KEY POINTS:
- Japan emphasizes missiles for China targets and naval upgrades.
- On track to be third in global defense spending, behind US and China.
- Goal: Defend outlying islands and territorial waters.
- Concerns: Taiwanese conflict and North Korean missiles.