Japan, U.S. Vow to Enhance Rules-Based Economic Order

Politics Economy

Washington, July 29 (Jiji Press)--Japanese and U.S. foreign and economic ministers on Friday agreed that the two countries will lead efforts to enhance a rules-based economic order to counter the growing influence of China and Russia.

The Japanese and U.S. ministers, meeting in Washington, also reaffirmed cooperation in securing advanced and strategically important technologies, including semiconductors, to ensure economic security.

The ministers "emphasized our joint leadership in enhancing the rules-based economic order and prosperity in the Indo-Pacific region and beyond," they said in a joint statement issued after the inaugural ministerial meeting of the Japan-U.S. Economic Policy Consultative Committee.

The two countries "stand for open, sustainable, and inclusive economic growth that delivers prosperity, upholds democratic values, reduces economic disparities, and protects human rights in the Indo-Pacific region and beyond," the ministers said.

Japan and the United States "committed to advancing policies that...counter economic coercion and non-market policies and practices," the statement said, apparently referring to threats from China.

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