Philippines' so-called maritime jurisdiction claims over Chinese territory illegal: spokesman

Philippines' so-called maritime jurisdiction claims over Chinese territory are illegal, Chinese Foreign Ministry spokesman Guo Jiakun said at a regular press briefing in Beijing on Tuesday.

"The Nansha Qundao, including Meiji Jiao, Zhubi Jiao and Zhongye Dao, is an inherent part of China's territory. China's construction and other activities on its own territory fall within the scope of its sovereignty and are legitimate and lawful. The territorial boundaries of the Philippines are clearly defined by a series of international treaties, and Nansha Qundao has never been part of Philippine territory. In accordance with the international law principle of 'land dominates sea,' the Philippines' so-called maritime jurisdiction claims over Chinese territory are illegal. The Philippine side's statements have fluctuated -- at one moment claiming that China's Zhubi Jiao is located within its exclusive economic zone and continental shelf, and at another moment claiming it lies within the territorial waters of the islands and reefs it has illegally occupied. This precisely illustrates the absurdity and arbitrariness of the Philippine claims, which are fundamentally untenable," he said.

"The 'South China Sea arbitration award' was entirely a political ploy by the Philippine side to seize illegal gains. The so-called 'award' is illegal, invalid, and has no binding force. The Philippines' so-called 'Maritime Zones Act' illegally incorporates China's Huangyan Dao and most of the islands and reefs in the Nansha Qundao along with the relevant maritime areas into the Philippine maritime zones, seriously infringing upon China's territorial sovereignty and maritime rights and interests in the South China Sea. It is illegal and invalid, and China firmly opposes it and will never accept it. We want to reiterate that China will continue to take resolute measures to safeguard its territorial sovereignty and maritime rights and interests and firmly oppose all acts of infringement. The Philippine side should immediately cease its infringing and provocative actions, as well as its incitement and sensationalism," said Guo.

Philippines' so-called maritime jurisdiction claims over Chinese territory illegal: spokesman

Japan's reliance on U.S. economic policy is allowing foreign funds to acquire Japanese assets at bargain prices, according to Japanese economist Kazuhide Uekusa.

He warned that the government's economic and defense strategies prioritize foreign capital and political profits over public welfare, failing to bring true prosperity to ordinary citizens.

The Bank of Japan (BOJ) on Friday raised its policy interest rate by 0.25 percentage points to 1.25 percent, the highest in about 31 years, following a two-day board meeting.

According to Uekusa, the timing of the shift aligns perfectly with the interests of large American funds.

"The Takaichi Cabinet has been reluctant to raise interest rates, thus allowing the yen to continue to depreciate. I think this is actually equivalent to helping foreign capital purchase Japanese assets at a low price. However, U.S. Treasury Secretary Scott Bessent has recently made a clear adjustment to the policy direction of the U.S. dollar against the Japanese yen, promoting the appreciation of the Japanese yen. The reason is that some large funds in the United States have basically completed their investment layout in Japanese assets," said Uekusa.

Uekusa also said Japan cannot attempt to revitalize its economy by expanding military spending and supporting the defense industry, and such a military buildup strategy is unlikely to bring about true prosperity and stability.

"I think it is true that the Japanese economy has been stagnant for a long time. However, to expand military spending in an attempt to revitalize the economy is, in my opinion, an extremely foolish and even crazy move. To achieve peace and stability in Japan, the foundation should be to establish friendly relations with neighboring countries rather than military expansion. The reason why the Japanese government attaches so much importance to the military industry is that it can generate huge profits, and a part of these profits may flow back to political parties or political figures through various means. I don't think this is at all for the benefit of the people," he said.

Japanese economist criticizes gov't policies for enabling cheap asset sales to foreign funds