weak yen

Japan's Foreign Minister Yoko Kamikawa and Philippine's Defence Minister Gilberto Teodoro shake hands after signing the reciprocal access agreement, at the Malacanang Palace in Manila, Philippines, July 8, 2024.

What We're Watching

Can Japan afford to muscle up?

Japan and the Philippines signed a new defense pact on Monday, allowing the mutual deployment of forces to each other’s territory for training – part of a larger mutual effort to stave off China.