Japan's record defense spending push marks the next phase of a decades-long ''normalization'' push to bring its military capabilities on par with those of its peers in response to growing regional threats. On Dec. 16, the Japanese government, led by Prime Minister Fumio Kishida, announced a massive increase in defense spending, going from roughly 1.1% of GDP to 2% of GDP by 2027. Tokyo will spend roughly $320 billion over five years, and the defense budget will reach roughly $80-90 billion by 2027 -- placing Japan third in the world for defense spending, behind only the United States and China (assuming other countries don't also ramp up their defense budgets in the coming years). The announcement is the culmination of decades of work by various leaders in the ruling Liberal Democratic Party, including former Prime Minister Shinzo Abe, to create a more robust defense structure and enable Japan to take...