Japan Should Focus On Nuclear Power


'The government has always insisted that there will be no nuclear energy without nuclear safety' - Ma Ying-jeou, Hong Kong-born politician.


Japan's trade deficit quadrupled over the last month, while a significant drop in the Yen does not help to boost exporters' profits, but is weighing on the import costs, as the world's third largest economy is highly dependent on the energy. Earlier this month the Japanese government officially adopted a new energy plan, the first since Fukushima nuclear disaster three years ago. The plan declares that the nuclear energy is a key component of Japan's prosperity. While domestic analysts are debating over the use of the nuclear power, still Japan's position as a leading exporter of nuclear technology is one of the main pillars of the Japanese economy.


Earlier this week, a visiting Japanese parliamentarian claimed that economic developments requires nuclear power plants, while also mentioning that all plants should first pass safety checks before they can resume operations. Hiroyuki Hosoda pointed out that since 2011 Japan's electricity rates have soared around 20% and in case the nuclear power controversy is not settled, rates will continue climbing higher, resulting in a higher trade deficit. All these factors will definitely affect Japan's global competitiveness, foreign investment as well the labour market. Despite obvious benefits, there are many people in Japan, who will oppose nuclear power and will insist on the usage of other sources of energy.