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Japan’s ruling party aims for 1,000 trillion yen nominal GDP in 2040, PM Ishiba says

TOKYO (Reuters) -Japan’s Prime Minister Shigeru Ishiba said on Monday he had instructed ruling Liberal Democratic Party (LDP) executives to include the goal of achieving 1,000 trillion yen ($6.94 trillion) nominal GDP in 2040 in a party election pledge. Ishiba also said the goal of achieving a more than 50% increase in the average income …

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China’s May exports slow, deflation deepens as tariffs bite

By Yukun Zhang, Qiaoyi Li, Ellen Zhang and Ryan Woo BEIJING (Reuters) -China’s export growth slowed to a three-month low in May as U.S. tariffs slammed shipments, while factory-gate deflation deepened to its worst level in two years, heaping pressure on the world’s second-largest economy on both the domestic and external fronts. U.S. President Donald …

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Japan confirms China’s aircraft carrier sailed east of Iwo Jima for first time

TOKYO (Reuters) -The Chinese aircraft carrier Liaoning sailed through waters east of the island of Iwo Jima in the Pacific Ocean for the first time, Japan’s top government spokesperson said on Monday. Japan would strengthen surveillance and gather necessary information, Chief Cabinet Secretary Yoshimasa Hayashi told a regular press briefing in Tokyo. Japan has also …

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South Korea President Lee, Japan PM Ishiba agree to strengthen ties

SEOUL (Reuters) -South Korea’s newly-elected President Lee Jae-myung and Japanese Prime Minister Shigeru Ishiba agreed during a telephone call to strengthen bilateral ties, a South Korean presidential spokesperson and Japan’s foreign ministry said on Monday. The call comes after the two leaders said they aimed for their countries to continue coordination on North Korea issues. …

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Several Japanese military members injured in explosion at U.S. Kadena Air Base in Okinawa

TOKYO (Reuters) -Several Japanese Self-Defense Force members were injured on Monday in an explosion at an ammunition storage area inside the U.S. military’s Kadena Air Base in Okinawa, southern Japan, defence ministry officials said. None of the injuries were life-threatening, one of the officials said. The facility is used to temporarily store unexploded ammunition. (Reporting …

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South Korean conservatives looking for rebirth after election loss

By Ju-min Park SEOUL (Reuters) -South Korea’s right is looking to remake itself after a massive defeat in this week’s snap presidential election that left it with little power to challenge the ruling Democratic Party. New leader Lee Jae-myung and his party now control parliament and the presidency with Tuesday’s polls exposing the smouldering resentment …

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UK finance minister Reeves to meet China’s vice premier on London trip

LONDON (Reuters) -British finance minister Rachel Reeves will hold a meeting with Chinese vice premier He Lifeng during his visit to Britain this week for trade talks with the United States, a British government source said on Sunday. China’s foreign ministry said He would be in Britain between June 8 and June 13 when there …

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Taiwan coast guard, military drill to better face China’s ‘grey zone’ threat

By Ben Blanchard KAOHSIUNG, Taiwan (Reuters) -Taiwan’s coast guard held drills with the military on Sunday to better practice joint operations in the face of what the government in Taipei says is a growing “grey zone” threat from China, which claims the island as its own territory. Democratically governed Taiwan has repeatedly complained about activities …

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