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For full article text, please visit: http://www.geopoliticalmonitor.com/japan-slips-into-the-asian-arms-race-4770/ In a move that could have far-reaching consequences in the Asia Pacific region, Japanese Prime Minister Shinzo Abe has followed through on one of his campaign promises and increased defense spending after nearly a decade of budget reductions. Japan’s Defense Ministry has indicated that it will ask for $2.1 billion in funding from a government stimulus package, a request that comes on the heels of a $1.1 billion budget increase that was announced last year. The increase marks the first time in 10 years that the Japanese government has boosted its defense budget, and it stands as further proof of deepening tensions throughout the Asia Pacific region. New budget allocations will be spent on PAC-3 anti-ballistic missiles (Lockheed Martin), as well as re-fitting programs for four of Japan’s aging F-15 jets. They come on top of several other procurement programs that have already been written into Japan’s $53 billion annual defense budget, such as the purchase of AEGIS systems for two guided-missile destroyers, and a planned purchase of 42 F-35 fighters over the coming years. For full article text, please visit: http://www.geopoliticalmonitor.com/japan-slips-into-the-asian-arms-race-4770/  follow on Twitter | friend on Facebook | forward to a friend  Copyright © 2013 Geopoliticalmonitor.com, All rights reserved.  You are receiving this email because you opted in at our website.  Our mailing address is:  Geopoliticalmonitor.com 5700-100 King Street West Toronto, On M5X1C7 Canada