Japan's art of intervention

Japan's relationship with Pacific Island countries (PICs) has evolved through bilateral and regional approaches, with the Pacific Island Leaders Meeting (PALM) becoming a key platform for policy dialogue. The history of this relationship includes disputes over issues like nuclear waste dumping and the development of the Kuranari Doctrine to guide relations. PALM has gone through three significant periods, fostering trust and dialogue between Japan and the PICs. Meanwhile, the currency market, particularly the yen, has experienced volatility due to suspected interventions by the Bank of Japan, impacting global investors and raising questions about market timing and authorities' strategies.