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NEW Risk Assessment and Management Report

NEW Risk Assessment and Management Report

The paper have 10 risks, each risk please involve how much GDP will effect, and please amend the risk assessment matrix, it seem difficult to unde
To begin this assignment, you should read some of the following published risk assessment documents:








This is not an exhaustive list. You may find others as you wish.

In these risk studies the main method is as follows:

1) List the ten main risks to the country/nation
2) Decide if they are low/med/high
3) Place them on a risk matrix.

Your task is essentially to produce your own objective National risk register, minus some of the packaging (because it will not be presented to Government for ratification) and plus small refinements as described below.
My essay target Country is Japan.
Consider how the risks were selected in the above documents.

– How were risks identified and quantified.
– Was it sufficient/rigorous/original/outstanding etc?
– Has the risk assessment affected practice?
– What was recommended to deal with the risks? Is it adequate or excessive?
– Is there any consideration of insurance?

Identify the top ten risks.
– You may consider losses to the Nation, to Industry, to the people, to te environment

Give your overall justified rating of the top ten priorities for the country to act upon.

Marking Scheme
Numbers in brackets are estimated/indicative marks for each item totalling 100 for the assignment. This is intended as a guide how it will be marked so that you can put more effort where there are more marks.
For more information please see the assessment criteria at Appendix 1
Next place the risks on a risk matrix. Make any appropriate conclusions. [40 marks]

Next you should produce a fault tree from your identified/quantified risks. Place “National Loss” as the top event. Make any appropriate conclusions. [20 marks]

Finally, you can easily find the GDP of the country online. Assume that 1% of GDP will be allocated to dealing with your ten risks. Prepare a plan of how that money should be distributed amongst the risks. [40 marks]

The word limit is 3,600 words. This excludes footnotes but includes quotations. The word count must be printed on the top right hand corner of your work.

•??????????You must keep to the word limit.
•??????????You must demonstrate that you have met the learning outcomes.
•??????????As you construct and present your work, consider the assessment criteria.
•??????????You are asked to demonstrate your skill and not give a minimalistic answer.

All academic writing must be referenced. If you use other people’s ideas without referencing them you are plagiarising their work.

Use the Harvard system of referencing within your text. This will take the form: surname, year of publication, page number, and is enclosed within brackets, for example (Bradley 1998, 277). At the end of your work you should provide an alphabetical list of all the works you cite.
Objective National Risk Register for Japan
Instructor’s name

Table of Contents
Introduction 3
Types of Risk 4
Japan Risk Matrix 4
Political instability 5
Natural Hazards 6
Environmental pollution 8
Declining and aging population 10
Territorial disputes and International Issues 10
Delayed growth in 2017 11
Acutely delayed consolidation of public finances 12
The Trans-Pacific Partnership (TPF) is at risk of unravelling 12
Crime 13
Human Rights, Transparency and Corruption 13
Likelihood assessment 14
Conclusion and Impact Assessment 14
Reference List 16
Japan is an East Asian sovereign Island nation bordering China, South Korea, North Korea, Taiwan, Russia, the East China Sea, the Sea of Okhotsk, and the Sea of Japan (The Global Edge, n.d.). The country’s geography is basically an archipelago of 6.852 mostly volcanic and mountainous islands and is run by a constitutional monarchy in conjunction with a parliamentary government. There are two main constitutional positions of leadership with one being hereditary and the other being democratic. The hereditary post of chief of state is under the emperor while the democratic post is that of chief of government and is headed by the prime minister. Japan has membership in the APEC (Asia-Pacific Economic Cooperation) and the TPP (Trans-Pacific Partnership). It carries out its internal trade in a market economy such that pricing of service and goods is freely determined by the business community.
The country had a G.D.P of 4,117 billion USD and a G.D.P. per capita of 32,484 USD at the close of the 2015 financial year (Focus Economics, 2017, table “Japan Economy Data”). According to the Global edge website, the country is relatively risk-free and has thus awarded it a business climate rating of A1 citing that it has a very good environment for business with readily available and reliable corporate information, efficient debt collection systems, good quality of institutions meaning that it is among the best places on earth in which to set up a business with one of the key reasons for this being that company to company transactions take place smoothly. The same website awarded it a country risk rating of A2 meaning that the political and environmental stability of the nation are close to perfect. However, there exists room for improvement.
In terms of strengths, most of the country’s national debt (90%) is owed to locals. This makes sense considering the very high national savings levels as well as the differentiated industrial sector and cutting-edge technology products. The country is also advantaged in its geographical setting that’s found within a region that is dynamic. The country is not devoid of weaknesses with a government that is unstable. Additionally, it has found it difficult to put together all public finance and occasionally exits deflation. In terms of working population, more and more are going out of work as the number of workers lacking job security rises. Lastly, the country’s small and medium-sized enterprises have low productivity (The Global Edge, n.d.).
Types of Risk
This document considers risk in Japan to be emanating from the following ten main areas and in no particular order:
1. Political instability
2. Natural hazards
3. Environmental pollution
4. Declining and aging population
5. Territorial disputes and International Issues
6. Delayed growth in 2017
7. Acutely delayed consolidation of public finances
8. The Trans-Pacific Partnership is at risk of unravelling
9. Crime
10. Human Rights, Transparency and Corruption
NB: Find the effect on GDP/Economy outlined at the end of every risk’s discussion.
Japan Risk Matrix
Impact on Japan GDP Lowest – highest 4
2 & 3
1 8 6 & 7
9 10
Lowest – highest
Likelihood of occurrence

NB: Use “Types of Risk above” as the Matrix Legend
Political instability
Japan is much like Britain in terms of political structure with an almost completely ceremonial monarchy and a government led by an elected Prime minister as well as a functioning democracy and parliamentary system. The country’s political situation has been caused by a couple of factors mainly the primary need for economic reforms caused by China overtaking Japan as the region’s economic and industrial powerhouse. There is also the question of looming territorial disputes with neighbours like China over disputed islands in bordering seas. Additionally, there is the question of regional and economic partnerships that Japan is party to and which seem to be unravelling (Political Monitor, n.d., par 10).
The situation before election of the country’s current prime minister in the year 2012 seemed bleak. At the time, the prime minister (Yoshihiko Noda of the Democratic Party (DP)) needed to pass certain economic laws and could only do so with the opposition’s (Liberal Democratic Party (LDP)) help. His party thus made a deal with the opposition that they would support these bills in parliament and in return he would call for fresh elections (McCurry, 2017, par 4). The DP’s support at the time was at an all-time low of 6.6% and current prime minister Shinzo Abe won the subsequent elections.
Prime Minister Shinzo Abe came into power intent on correcting the country’s ailing economy with the “Three Arrows” program whose cornerstone were three economic reform policies. Namely: ‘monetary easing, government stimulus and structural reform’ (Political Monitor, n.d., par 9). The first two have been easy to implement but the third proved difficult due to vested interests of the electorate which is a political stability cause for concern. Additionally, majority of the electorate seem to be against restoration of nuclear power even with proper safety standards but the situation looks better since Abe’s reelection serves as a vote of confidence. The country is thus in a precarious position economically with improvement dependent solely on the government’s ability to maintain political stability. However, the rsik of violence due to politics is low.
Effect on GDP: The politicla trend over the last 12 months has caused depreciation of the Yen against America’s dollar despite efforts by Japan’s Central Bank to devalue the currency. This has provided minimal relief to exporters and had minimal effect on the country’s GDP (Political Monitor, n.d.).
Natural Hazards
According to World Bank reports, Asia is the world’s most hazardous continent. In this hazardous continent are found five countries the World Bank has concluded are the most prone to natural disaster. These five are: Japan, China, Bangladesh, Philippines, Indonesia and India. One of the key reasons for this conclusion is that there are several tectonic plate boundaries that snake their way across Asia (BBC, n.d., par 1).
The Islands of Japan in particular are located near what is termed a destructive plate margin since the Philippine plate is being pushed over the Pacific plate. This means that the chances of high magnitude earthquakes, that also tend to be accompanied by Tsunamis, occurring in Japan are high. Additionally, those that have occurred in the past have left devastating destruction in their wake. For the same reasons, Japan is prone to more than occasional low magnitude earthquakes that are not always destructive (BBC, n.d., par 2).
The earthquakes and Tsunamis usually have very undesirable effects. This is especially considering the fact that Japan is industrialized and full of mature infrastructure. Their power grid is mostly dependent on nuclear energy plants which are almost always affected when a high magnitude earthquake strikes. This means that when high magnitude earthquakes occur, infrastructure is disrupted, radiation leaks occur in the nuclear power plants, power supply turns intermittent, industries’ production is reduced; and in the event, that a Tsunami also occurs, a lot of debris is left behind. A Tsunami is most likely to occur when the focus of an earthquake is: shallow, within the ocean or when the earthquake’s magnitude is above six (BBC, n.d., par 3).
A good example of this happened in the year 2011 when a magnitude nine quake erupted in Japan leaving untold destruction in its wake and killing over thirty thousand people. The most affected power plant was Fukushima which suffered radiation leaks and caused most other nuclear power plants within the country to be shut down and production within the country’s industries to slow (BBC, n.d., par 3).
Additionally, the country is prone to extreme weather and climatic hazards such as mudflows and landslides that tend to be caused by heavy rainfall during the monsoon seasons, tropical storms emanating from the Pacific Ocean and sometimes little rain that may plunge the region in drought (BBC, n.d., par 5).
However, considering the extent of the country’s industrialization and technology investments like R&D (research and development) their disaster preparedness levels rank quite highly; since they constantly conduct research and have the resources to deal with such disasters as they occur. The country also consistently conducts earthquake preparation drills every year and trains households on what to do in case of an earthquake. All households are thus ready and know exactly how to act when an earthquake hits. They are also all equipped with earthquake survival kits and their buildings are designed such that they are able to remain standing even when strong earthquakes occur. This means that despite the high risk of tectonic hazards occurring, the country is well prepared for eventualities and handling of causalities. Additionally, their construction methods ensure that tremors of moderately high magnitude remain harmless to them. Also, they are coming up with nuclear power plants with high safety and disaster preparedness standards that will ensure they can withstand the worst (BBC, n.d., par 2).
Effect on GDP: This is best illustrated by using the 2011 Tsunami and Earthquake which dealt a $360 Billion blow to the Japanese (Amadeo, 2016, par 6).
Environmental pollution
Japan is a stunningly beautiful island country. This can be attributed to its mostly green and mountainous environment. It also has a vibrant, creative and tech savvy people with a deeply ingrained eastern culture. However, even with all this good, the evils that are a by-product of industrialization still loom within their borders. Environmental pollution has been rife in Japan for about two centuries now. It happened gradually as industrialization kicked in and grew steadily for a long time during the Meiji period (1868-1912) period. After the world wars, it steadily increased in pace as further rapid industrialization took place; at a time when the Japanese economic miracle as we know it was coming into fruition. The Japanese became so industrialized that it got to the point where they were now modifying and reconstructing their country’s natural geographic features such as beaches and rivers that passed through their cities (Hays, 2012, par 2). Additionally, they have been through the worst of air and water pollution so much that at one point fresh oxygen was being sold commercially.
The effects of pollution that directly affected the people manifested themselves in terms of disease. These diseases included cancer, toxic poisoning diseases; Minamata disease, itai-itai disease, chronic arsenic poisoning as well as respiratory diseases. All of these mainly affected the common man so adversely that it dialled a wake-up call in their minds on the state of their environment. After going through the worst in terms of pollution and environmental degradation, the Japanese people collectively realized their mistake; prioritizing economic growth over standards to protect the health and safety of the people (Hays, 2012, par 12). They then set out on a course to change the trajectory of things. The changes made, over a long period time beginning in the late 60’s have since been integrated into the Japanese anti-pollution legal framework and are strictly enforced by the government. This led to a turnaround in the state of the environment following a rigorous effort to restore it to its lost glories. The Japanese government even provides for incentives and education to individuals and industries to encourage them to take care of the environment and value it. It is also a big advocate of clean energy (Hays, 2012, par 4).
However, even with these big developments, there are still many risks that may arise due to environmental pollution in the Islands of Japan This happens partly due to their mistakes and mostly due to the mistakes of their neighbours like China. China at the moment is going through the rapid process of industrialization that Japan went through in the period beginning after the end of the world wars. They are at that point in industrialization where they don’t care much for the environment but rather for the returns in terms of money and political clout that it brings to their country (Hays, 2012, par 17). Unfortunately for their neighbours, like Japan, the effects of their environmental pollution are not felt strictly within their borders. Acid rain and snow, among other negative effects, have been experienced in Japan on account of Chinese industrialization.
Besides being prone to environmental pollution due to natural disasters, the Japanese have been criticized for instituting a lot of short-term environmental clean-up policies rather than actually cleaning up their environment for the long-term. This was especially common with the LDP party that has formed most of the governments in the country since after the wars. So resistant to change were they that it became a hallmark of their time in government (Hays, 2012, par 4), until recently with the election of the current prime minister; Shinzo Abe. There is also the question of pollution due to nuclear energy. This happened first with the dropping of the atomic bomb and the power plant accidents that have occurred in the country since then, the most adverse of which happened in 2011 and was caused by the Earthquake its accompanying tsunami (Hays, 2012, par 24). This led to the shutting down of many such power plants, which the current prime minister is trying to get back online but with stricter safety standards.
Effect on GDP: Pollution has resulted in disease which has caused countless losses on the Japanese economy in terms of medical expenses that go into treating them.
Declining and aging population
Japan has a huge population problem. There are currently around a million births every year while there are slightly over a million deaths every year also. This basically means that more people are dying than there are new-borns (Domínguez, 2015, par 1). Additional statistics point to the fact that more and more young people are against getting married while the number of aging people is on the rise. This low birth rate can thus be attributed to the fact that there is a lot of stigma attached to child-bearing outside of the institution of marriage. This is further compounded by the recent trend later marriages. Basically, there are much less people getting married early in life today than there were 15 years ago, in the same society (Cortazzi, 2015, par 8). This can be attributed to the fact that less young Japanese today want to conform to the traditions of getting married early to make a home (Domínguez, 2015, par 6). Some measures have been put in place to counter some of these stigmas and attitudes that are the cause for this current state.
There are two main ways that the problem can be solved: Destigmatizing some of the population increasing attitudes that are shunned and easing up on the strict immigration policies. However, despite the Japanese being fully aware of the current state of their populational situation, there is a staggering complacency about it making the measures put in place very inadequate (Domínguez, 2015, par 13). The end result is that there will be less people in the country to be schooled, to work in the industries, to take care of the elderly, etc. This poses a great risk to maintaining Japan as one of the world’s greatest economies.
Effect on GDP: This is best illustrated by using the 2011 Tsunami and Earthquake which dealt a $360 Billion blow to the Japanese economy (Amadeo, 2016, par 6).
Territorial disputes and International Issues
Japan strongly supports currently existent international rules-based further supported by its membership in G7, G20, APEC, and ASEAN+3. It also has a close relationship with the US which has strongly influenced whose significance has played a huge role in Japan’s foreign policy. This same relationship has played a big role in mitigating the risks of Japan’s biggest threat, as identified in its 2015 Defence White Paper: North Korea and its illegal nuclear weapons program (GOV.UK, 2016, par 4, 5 & 7).
Japan and China remain strong partners in terms of investment and trade but their disputes over the Japanese-administered but uninhabited Senkaku Islands pose a threat to this. Japan is also in territorial dispute over other Islands with other countries such as the Northern territories with Russia and Dokdo with South Korea. None of these disputes pose a security threat but have strained ties politically between the involved parties. Prime Minister Shinzo Abe has travelled widely to foster good relationships with other countries and has undertaken a couple of security reforms domestically to smoothen the US-Japan security relationship and to ease partnership with new friends (GOV.UK, 2016, par 6 & 8).
Effect on GDP: The economic effect of this is that the relevant territorial disputes are hampering trade and economic cooperation between Japan and the countrys it is in dispute with over the island territories in question.
Delayed growth in 2017
In the year 2016, growth of the Japanese economy remained slow and was driven mainly by public consumption and to a smaller degree by private consumption. The economic policies brought about by Prime minister Shinzo Abe have failed in yielding the expected results since the following risks persist: deflation and high level of public debt. For this reason, growth this year (2017) is going to be delayed, so much that even government backing on the same has fallen. Of course, private expenditure will continue to support business but growth of wages won’t take off. Additionally, the small rise in inflation will also have a negative effect on real wages and its failure to return to positivity as a result of the slow growth of oil prices. This may make inflation rise slightly above zero but in truth, this is still way below the country’s 2% target.
External trade is projected to be slothful. However, it may increase slightly due to more positive environment of business partners but still be hindered by the Yen’s past appreciation. Due to the wait-and-see attitude of most investors, private investment is also expected to stay slothful despite favourability of corporate liquidity, profits and financial conditions which will all stay supported by the continued accommodativeness of the monetary policy. In order to achieve the seemingly ambitious inflation target rate of 2%, in September of 2016, the monetary policy experienced an evolution with the introduction of a rate curve control which included a long term interest rate target of 0% (will be made possible by buying as many bonds as possible) and widening the monetary base as much as is needed (Coface, 2017, par 2).
Effect on GDP: Delayed growth means that the GDP may stagnate and fail to grow as needed.
Acutely delayed consolidation of public finances
Japan’s public deficit was projected to stabilize in the year 2016 but the increased social spending bears a significant weight on the country’s budget considering that the revenues it is making remain insufficient to bridge the gap. The country’s stimulus package further multiplied in 2016 but its effects are projected to reduce in 2017. With the growing health costs that are ballooning as the country’s aging population rises and the looming expenditures of Japan’s 2020 Olympics, Japan’s trajectory of debt appears unsustainable. Another goal by the government in this same regard that appears unrealistic is their aim to create a primary surplus by the year 2020.
The current surplus in accounts is projected to stay constant throughout 2017 as the Yen and Dollar tug of war continues and its subsequent hindering of exports; which may still stay strong due to demand of the country’s trade partners. Relief in the form of tourism is also expected especially with the influx of Chinese tourists. However, the balance of income will still bear a great significance (Coface, 2017, par 3).
Effect on GDP: The effects of this risk may be felt mainly as a result of debt. So as to solve the debt crisis, Japan will either default on the debt, monetize it or raise taxes. The most likely cause of action is to monetize the debt as is currently going on as Taxation pauses further political risk to the ruling party and the economy while defaulting is not an option (Smith, 2014)
The Trans-Pacific Partnership (TPF) is at risk of unravelling
The TPF is a proposed economic partnership between Trans-Pacific states that was formed in order to harmonise standards through the reduction of tariffs. The partnership was also aimed at countering the growing influence of China. The Japanese parliament ratified the partnership on the 9th of December, 2016. However, the partnership cannot go into operation without the support of the United States, whose rejection the current president (Donald Trump) had blatantly voiced during his presidential campaigns.
While Japan wants to maintain close relations with the US so as to avoid isolation in Asia, US’ rejection of the TPF comes as a blow to Japan that is an ardent defender of free trade in the region. This is because China now has free reign to implement the RCEP (Comprehensive Economic Regional Partnership), which conveniently excludes the US. Additionally, another key player in the region, North Korea, has been carrying out nuclear tests which Japan condemned while at the same time urging the international community to further sanction the errant state (Coface, 2017, par 4).
Effect on GDP: This will negatively affect the Japanese economy and its path to recovery while strengthening the position of China and other benefeciaries of the RCEP.
Levels of crime in Japan remain low except in Japan’s entertainment districts such as Shinkuju and Roppangi where crime levels are slightly higher. Essentially it is safe to take a walk at night and commute on public transport. Personal attacks are rare but the inappropriate touching of female public transport user is a fairly common occurrence to which police have advised that should one be a victim they should shout to gain attention while also asking fellow passengers to summon train staff. As for the entertainment districts, the spiking of drinks and subsequent robbing off unconscious victims is a fairly common occurrence that foreigners should be wary of (GOV.UK, 2016, par 18 & 19)
Effect on GDP: Negligible as the risk of occurrence is also quite low.
Human Rights, Transparency and Corruption
Bribery is illegal but business gifts are more freely exchanged in Japan than in Europe, factor that may make newcomers queasy. The country was ranked number 18 out of 167 in Transparency International’s CPI (corruption perception index) despite lagging behind many counties in the west in terms of anti-corruption and civil governance laws in the protection of whistle-blowers and public procurement.
The country is also highly rated in terms of press and personal freedoms. It is also strongly committed to the rule of law which is accompanied by a strong and independent judiciary. Further, Japan meets most international civil and political rights standards but the occasional UNHCR commission sometimes disputes this citing issues such as hate speech, gender equality and racial discrimination as well as the country’s seemingly unencumbered death penalty application and overly high rate of conviction and forced confessions use in interrogations (GOV.UK, 2016, par 15, 16 & 17).
Effect on GDP: Negligible as the risk of occurrence is also quite low.
Likelihood assessment
Natural disasters clearly bear the greatest risk and have the worst effects on Japanese economy as they cause economic losses, kill as well as damage expensive infrastructure. They also have a moderate likelihood of occurrence and are accompanied by environmental pollution whose effects are long term. Natural disasters are then followed by economic stagnation as it is a real current issue. The risk posed is also moderate since some of the econmic policies being exercised have been dimmed unrealistic and all the world can do is watch and wait for fruition. Right below this is political instability and territorial disputes which are less likely to occur hence pose a lesser risk. However, their effects should they occur would be devastating not only to the economy but also to world and regional piece. Ranking in last on likelihood of occurrence and risk is crime, human Rights, Transparency and Corruption
Conclusion and Impact Assessment
Japan’s level of risk is generally low with the common issues that make other countries quite risky such as corruption, bribery, inflation, terrorism and political instability, among others; ranking very lowly in Japan. Japan’s biggest risks stem from its geography, economics and labour demographics issues. For example, 2011 Earthquake and Tsunami dealt a $360 Billion blow to the Japanese economy by killing and displacing thousands as well as forcing the closure of the Fukushima power plant and estroying over 138,000 buildings (Amadeo, 2016, par 6). This further dealt a blow to the Japanese econmic recovery whose growth was pegged at 3% in 2011. Growth then stagnated as rebuilding efforts helped improve things but impact on the economy was negated by the massive debt that the government sunk deeper into (Amadeo, 2016, par 11). Basically, occurrence of these risk factors has a negative effect on the economy and lead to decline or stagnation and effectively affect the G.D.P negatively.
However, it is only fair to mention that being under a seemingly capable governement as well as having economic might, the country is confidently handling these issues and is bound to resolve them and maintain peace and coperation with its neighbours.
Reference List
Amadeo, K., 2016. Japan’s 2011 Earthquake, Tsunami and Nuclear Disaster. [Online]
Available at: https://www.thebalance.com/japan-s-2011-earthquake-tsunami-and-nuclear-disaster-3305662
[Accessed 15 March 2017].
BBC, n.d. Hazards in Asia – Tectonic Hazards. [Online]
Available at: http://www.bbc.co.uk/bitesize/ks3/geography/places/contrasts_within_continent/revision/8/
[Accessed 11 March 2017].
Coface, 2017. Major Macro Economic Indicators – Risk Assessment. [Online]
Available at: http://www.coface.com/Economic-Studies-and-Country-Risks/Japan
[Accessed 14 March 2017].
Cortazzi, H., 2015. Japan’s population problem. [Online]
Available at: http://www.japantimes.co.jp/opinion/2015/11/19/commentary/japan-commentary/japans-population-problem/#.WMV8zun-vcs
[Accessed 12 March 2017].
Domínguez, G., 2015. Impact of Japan’s shrinking population ‘already palpable’. [Online]
Available at: http://www.dw.com/en/impact-of-japans-shrinking-population-already-palpable/a-18172873
[Accessed 12 March 2017].
Focus Economics, 2017. Japan Economic Outlook. [Online]
Available at: http://www.focus-economics.com/countries/japan
[Accessed 15 March 2017].
GOV.UK, 2016. Guidance – Overseas Business Risk – Japan. [Online]
Available at: https://www.gov.uk/government/publications/overseas-business-risk-japan/overseas-business-risk-japan
[Accessed 14 March 2017].
Available at: http://factsanddetails.com/japan/cat26/sub162/item870.html
[Accessed 12 March 2017].
McCurry, J., 2012. Japan’s political instability continues as it faces another general election. [Online]
[Accessed 11 March 2017].
McCurry, J., 2017. China accuses US of putting stability of Asia Pacific at risk. [Online]
Available at: https://www.theguardian.com/world/2017/feb/04/china-accuses-us-of-putting-stability-of-asia-pacific-at-risk
[Accessed 8 March 2017].
Political Monitor, n.d. Japan – Political Risk Outlook. [Online]
Available at: https://politicalmonitor.com.au/content/japan-political-risk-outlook
[Accessed 11 March 2017].
Political Monitor, n.d. Japan – Political Risk Outlook. [Online]
Available at: https://politicalmonitor.com.au/content/japan-political-risk-outlook
[Accessed 24 March 2017].
Sieg, L., 2009. FACTBOX: Five political risks to watch in Japan. [Online]
Available at: http://www.reuters.com/article/us-japan-risks-factbox-idUSTRE5A111A20091102
[Accessed 11 March 2017].
Smith, N., 2014. Japan’s Debt Trap. [Online]
Available at: https://www.bloomberg.com/view/articles/2014-09-24/japan-s-debt-trap
[Accessed 24 March 2017].
The Global Edge, n.d. Japan: Introduction. [Online]
Available at: https://globaledge.msu.edu/countries/japan
[Accessed 9 March 2016].
Tisdall, S., 2017. US defence secretary tries to calm Asian jitters – but is undermined at every turn. [Online]
Available at: https://www.theguardian.com/world/2017/feb/05/james-mattis-defence-japan-china-trump
[Accessed 8 March 2017].
United States C.I.A, n.d. The World Factbook – East and Southeast Asia: Japan. [Online]
Available at: https://www.cia.gov/library/publications/the-world-factbook/geos/ja.html
[Accessed 8 March 2016].

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