Decline of Japan's Current Account Surplus
The latest government report shows Japan's current account surplus has shrunk remarkably. The increase in volume and value of energy imports has brought the nation to the situation. The import of fossil fuels has been on the rise due to suspension of nuclear reactors since the Great East Japan Earthquake. The weaker yen has pushed up energy import cost. We must keep our current account surplus at all cost because it has a lot to do with yen's credibility.
Renewable energy such as solar power generation has not yet reached a high level of power generation efficiency and cost effectiveness sufficient enough to serve as a substantially reliable power source for the people's living as well as domestic industries. It is necessary to promote research and development to make a stable power source of it. Until the day comes, we haves no other base power sources but fossil fuels and nuclear power to rely on. The halt of nuclear facilities has been a major factor behind Japan’s expanding trade deficit. When it comes to restart of idled nuclear reactors, safety must come first. As long as the strict and serious condition is met, the process of regulatory clearance should not take time.