International competition is changing. The destructive effect of military conflict, in combination with an international order that offers alternative peaceful means of dispute resolution, has largely delegitimatized force as an arbiter of conflict between nations. Hard power can be dispositive in certain circumstances, but the number of such cases is dwindling. Today, economic success is the foundation of global success, and prevailing in that competition is a vital national objective. Governments must protect their firms' access to markets and ensure that the global playing field is level.

That logic animates the recent decision of the government to expand the National Security Council to include economic experts and advisers to ensure that this country has the right perspective, insights and tools to compete in this new era. It is the right move, although the practice of national economic statecraft requires a deft touch. Japan has long employed industrial policy to advance its national interests, but it must sharpen its tools and prepare for a different competition in the postindustrial economy of the 21st century.

Prime Minister Shinzo Abe had hoped to establish the NSC during his first term, but his early departure from office thwarted that ambition. He succeeded after he returned to power in 2012. The NSC includes four officials — the prime minister, the chief Cabinet secretary and the foreign and defense ministers — and is supported by the National Security Secretariat.