Japan Economy & Demography: Japan reported industrial output up 0.8% in April and a lower jobless rate of 2.5%, while a new census showed the population fell to 123.05 million in 2025—the steepest decline on record—intensifying pressure on regional communities. Disaster Preparedness: Japan is drafting a revised 10-year quake plan for the Tokyo area, aiming to cut expected deaths to “more than halving” by expanding fire prevention, reinforcing buildings, and pushing quake-sensitive circuit breakers. Food Policy Accountability: Japan’s government admitted overestimating rice supplies and responding too slowly during the recent rice crisis, after shortages became clear in 2024. Supply Chains & Minerals: India is joining 30+ countries to build non-China critical-minerals supply chains for EVs, smartphones and defense, with pricing and industrial sourcing still key hurdles. Manufacturing Policy: India’s PLI 2.0 for mobile phones is being reshaped to drive deeper domestic value addition and component localization. Climate Governance: A Green India Challenge founder urged “climate federalism” reforms, arguing the missing middle between national plans and local delivery is where action stalls. Philippines-Japan Security: Marcos said PH and Japan are committed to strengthening maritime security and keeping seas “open, secure, and governed by rules.” China Financial Controls: China launched a major crackdown on cross-border stock trading and trust structures used by wealthy investors, tightening cross-border tax and finance channels. China-Serbia Green Industry: China and Serbia touted breakthroughs in hydrogen-based green steelmaking, including trial production of high-end automotive steel panels. Japan Energy Trade Shock: Japan’s naphtha imports fell 47% in April as Middle East supply was disrupted by the Iran-related Strait of Hormuz closure, prompting diversification efforts.