Japan approves record $56 billion military spending

Japan has approved record levels of defense spending in a major shift from its postwar approach to military spending. Japan will also loosened arms export controls for the first time in nearly a decade.

Japan's defense spending will increase by more than 16% next year under a record military budget.

With Japan facing a regional threat in the shape of North Korea, the cash injection is intended to accelerate the deployment of long-range cruise missiles.

The budget adopted by the Cabinet also will further fortify the military with F-35 stealth combat jets and other American weapons as Japanese troops increasingly work with allies and take on more offensive roles.