U.S.-China technological hegemony and Japan's economic security

Abstract

The U.S. and China are said to be in hegemonic competition, and the main arena of that competition is technological superiority. Although 5G communications and space are considered to be the major domain, the real competition is taking place in emerging technologies. These technologies will define the socio-economic competitiveness and set standards for the shape of the international order, as well as military balance. While US President Joe Biden’s administration will continue the current confrontational policy against China, there is a growing concern that this stance may intensify the anti-trust actions on mega-IT companies which are the central players for emerging technologies. China is building up its programme to strengthen control over strategic assets and technologies, which may bring the country closer to technological hegemony. Japan is expected to respond to the economic statecraft from the U.S. and China by bolstering existing strength in advanced materials, robotics and machinery while avoiding dependency on China in order to reduce vulnerability