FOCUS: Stakes high for Japan PM's tax hike plan to boost defense

Japan's pledge to boost defense spending to 43 trillion yen ($312 billion) over the next five years has become a high-stakes gambit for Prime Minister Fumio Kishida, who has decided to push through tax increases to fund it.Experts see his preference for tax increases rather than bond issuance as reasonable given the country's fiscal health, the worst among developed nations, and beefing up defenses benefits Japan's people.But the question of whether boosting defense spending to that target is truly necessary and appropriate for Japan remains unanswered. Implementing the tax hikes could also…READ FULL ARTICLE