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Asia's first defences against energy shocks from the Iran war are running short and a more consequential second wave of impacts is beginning to hit. When the war started, governments scrambled to adapt to the closure of the Strait of Hormuz, a critical artery for energy flowing to Asia. They made difficult trade-offs: saving power at the risk of slowing businesses, prioritising gas for households at the risk of fertiliser production and dipping into energy stockpiles for temporary relief. But these measures were based on the war lasting only a short time, allowing a quick resumption of energy flows. That has not happened. With no clear end in sight, the fuel crisis is now rippling across economies. Airfare costs, shipping rates and utility bills are climbing, jeopardizing economic growth. About 8.8 million people are in danger of being pushed into poverty and the conflict may cause USD 299 billion in economic losses to the Asia-Pacific region, according to the United Nations ...
Japan's first long-range missile was deployed at a southwestern army camp, officials said Tuesday, as the country pushes to bolster its offensive capabilities. The upgraded Type-12 land-to-ship missiles, developed and produced by Japan's Mitsubishi Heavy Industries, became operational at Camp Kengun in Kumamoto prefecture. "As Japan faces the most severe and complex security environment in the postwar era ... it is an extremely important capability to strengthen Japan's deterrence and responsiveness," Defense Minister Shinjiro Koizumi told reporters. "It demonstrates Japan's firm determination and capability to defend itself." The upgraded Type-12 missile has a range of about 1,000 kilometers (620 miles), a significant extension from the 200-kilometer (125-mile) range of the original that would allow it to reach mainland China. The deployment of the long-range missile gives Japan a "standoff" capability, meaning it can strike enemy missile bases from afar, marking a break from the