The Politics of Securitization: US and Japanese Legislative Responses to De-risking with China

Abstract Economic security concerns are prompting the US and Japan to re-evaluate their trade ties with China. Despite extensive trade with China, both governments have converged on a “small yard, high fence” approach to de-risking. Yet considerable ambiguities remain about just how big is the yard (i.e. Which products do lawmakers think are risky?) and how tall the fence (i.e. What policies are being enacted to de-risk?). This paper compares the “de-risking” strategies employed by both states by analyzing legislative measures to identify products considered risky. Our research highlights the convergence in Japanese and American economic security policies, with both focusing on common strategic goods such as semiconductors and rare earths. However, Japan’s policies are narrower and more focused, while the US employs a wider range of policy instruments and targets a much broader range of products. The paper underscores the economic costs and political implications of these securitization efforts.