Sheila Smith discusses the importance of the U.S.-Japan alliance in today's global political environment, including insight into shifts in Japanese defense capability since the security pact was signed, as well as changes in Japan’s position as a regional and global power.  The CFR Master Class Series is a biweekly 45-minute session hosted by Vice President and Deputy Director for Studies Shannon O’Neil in which a CFR fellow will take a step back from the news and discuss the fundamentals essential to understanding a given country, region of the world, or issue pertaining to U.S. foreign policy or international relations.