JAXA outta juice already?

Images: JAXA launch, H-2A launch, JAXA 2 launch
Info: H-2A launch vehicle specs, official JAXA site

Japan Aerospace Exploration Agency, or JAXA, announced earlier this month an ambitious plan to launch astronauts, build a lunar base and explore the solar system.
Today they say their program has almost no funds left with which to operate and is facing a crisis.
With a budget of just $2 billion for research and development, Japan never had much of a program anyway, but in the last few years a stagnant economy has caused cut-backs across the board. JAXA officials did not receive its expected budget increase (to $2.6 billion) and are now faced with a bunch of great ideas and no way of making them happen.
Or do they?

Scrambling for a way to keep their Space dreams alive many scientists there are suggesting Japan work with other Asian nations to develop multi-national projects. It also has the option of developing smaller, perhaps more lucrative projects, and/or components for other countries Space programs.

The idea of China, India and Japan uniting their Space programs independently of the rest of the world is frightening to me: They will leave us in the dust.
Make no mistake, these countries--lacking as they soon will be (and some are) in natural resources, real estate and wealth potential-- have the most to gain from Space exploration.
It is often said necessity is the Mother of Invention. With the specter of overpopulation overshadowing everything else, these nations realize Space doesn't just offer a "great view" it offers the best chance for survival of the species.