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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.

REUTERS/Lisa Marie David

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. But while Tokyo’s diplomats are sealing deals with much-needed allies, its defense officials are stressing that a weak yen threatens to eat up their budgets.

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