China expressed firm opposition to the U.S. allegation of a "shadow transshipment network" on Thursday, calling it a false narrative and fabrication.
Spokesman for the Ministry of Commerce He Yadong said the U.S. report entitled "The Great Transshipment Scam: Rise, Scope, and Costs" disregards the facts and distorts right and wrong by denouncing normal international trade and investment as a "scam." "This is a typical act of unilateralism and protectionism aimed at suppressing and blocking Chinese products. China is strongly dissatisfied with and firmly opposed to this. In fact, it is the United States' excessively high and differentiated tariffs that are the fundamental cause of the threats to the security of global supply chains. By attributing its domestic economic problems to external factors, the United States will not be able to resolve its own deep-seated problems. China urges the United States to immediately stop its irresponsible accusations, stop undermining China-U.S. economic and trade relations, and genuinely safeguard the security and stability of global industrial and supply chains," said He at a press conference in Beijing.
"China has always complied with international economic and trade rules and will continue to conduct economic and trade cooperation with all parties on the basis of equality and mutual benefit, jointly build a trade network of mutual benefit and win-win outcomes, and make positive contributions to global development and prosperity," he added.
China calls US "shadow transshipment scam" allegation false narrative
Japan's Defense Ministry is seeking about 8.9 trillion yen (about 56.1 billion U.S. dollars) for the 2027 fiscal year, setting a new record high, local media reported on Wednesday.
Kyodo News reported that the ministry will begin developing a submarine-launched hypersonic missile and push forward research on equipping unmanned submarines with long-range missile launch capabilities, according to the full contents of the disclosed fiscal 2027 defense budget request.
The report said that the defense budget request for fiscal 2027 prioritizes three areas. The first is a new defense approach to counter new forms of warfare involving drones and artificial intelligence (AI). The second is sustained response capability for prolonged conflicts. The third is the foundation of defense capabilities, including the production base for defense equipment and improved conditions for Self-Defense Forces personnel.
According to the report, the ministry is also developing a vertical launch system that can be loaded onto submarines. It will start work on low-cost domestically produced long-range missiles while also purchasing missiles from overseas. With these projects included, the final budget could reach around 10 trillion yen when it is formally compiled at the end of this year.
In late 2022, the Japanese government adopted three key security documents, setting a total defense budget of about 43 trillion yen for the five fiscal years from 2023 to 2027. Since fiscal 2023, Japan's defense budget has repeatedly hit record highs, raising concerns across Japanese society.
Analysts believe the continued expansion of defense spending sends a dangerous signal that the government is accelerating military buildup and seeking a breakthrough in military capability.
Japan plans record defense budget for fiscal 2027
