The Japanese government, under Prime Minister Sanae Takaichi, has set a course to revise its 'Free and Open Indo-Pacific' (FOIP) policy to strengthen economic security cooperation among allies and like-minded countries, particularly in the context of mitigating dependency on China. This revision is expected to be announced during the Prime Minister's upcoming policy speech at an extraordinary National Assembly session. Key aspects of the new FOIP are anticipated to focus on enhancing economic foundations, driving economic growth, and reinforcing security measures with allies and emerging nations.

The revision comes on the heels of heightened concerns over supply chains for critical minerals due to restrictions imposed by the Chinese government on dual-use goods exports to Japan. This has raised alarms in the Japanese business sector regarding steady supplies of rare earth elements. In response, the Japanese government intends to diversify its supply sources to bolster economic security, aiming to create a system that is less reliant on China. This strategy includes restructuring supply chains for important minerals and enhancing collaboration on issues such as artificial intelligence (AI) competition with other nations.

Through this proactive stance, the Takaichi administration seeks to foster deeper cooperation with allies and partners in the Global South, emphasizing the importance of a collaborative approach to address both economic and security challenges. The strategic move is intended not only to counteract the influence of China but also to navigate the complexities of modern global supply chains and technological competition, marking a significant shift in Japan's foreign policy framework.