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The Japanese Self Defence Force is not to be trifled with -- plenty of fighting ships, good planes, about 250,000 personnel, and the best technology -- some bought from us, some theirs. They have AEGIS guided missile cruisers, AWACs planes, all the goodies. Most of these stay close to home, but not all; some have operated out of the Persian Gulf in support roles to American forces.
If they cared to, or had a reason to, or had the money to, scale up their current assets by 300 percent or so, no one but the U.S. could stand against them in non-nuclear warfare.
As to whether they would: I don't think the average Japanese is willing to die to build an empire any more; even less so than Americans.
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