Japan Approves Record Defense Budget Amid Rising China Tensions

TL;DR Summary
Japan's Cabinet has approved a record 122.3 trillion yen ($782 billion) budget for the upcoming fiscal year, with over 9 trillion yen allocated for defense, aiming to strengthen coastal defenses amid rising regional tensions, particularly with China and the Taiwan issue. The country plans to double its defense spending to 2% of GDP, accelerate its timeline to meet this goal, and rely on imports for unmanned weapons to address manpower shortages, reflecting concerns over China's military activities near Japan.
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- Japan’s cabinet approves record defence budget amid escalating China tensions The Guardian
- Japan Plans to Reduce Sales of Super-Long Government Bonds Bloomberg.com
- Japan's super-long bonds rise after news on issuance cut CNBC
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