Saturday, February 4, 2017

Japan's pension megafund to invest in US infrastructure

 From Nikkei's Asian Review:

Tokyo proposal steps up bilateral jobs initiative
The Government Pension Investment Fund would invest in high speed rail projects in Texas and California. 
Infrastructure investments in the U.S. by Japan's Government Pension Investment Fund will feature heavily in the economic cooperation package to be discussed at next week's summit in Washington between the two countries' leaders.

The goal is to create hundreds of thousands of American jobs, in keeping with U.S. President Donald Trump's agenda, and deepen ties between the two countries.

New cabinet-level talks discussing trade policies and economic cooperation agreements are also on the table. Japan's contingent would likely include Finance Minister Taro Aso, Economic Minister Hiroshige Seko, and Foreign Minister Fumio Kishida. The U.S. is expected to send incoming Commerce Secretary Wilbur Ross and incoming U.S. Trade Representative Robert Lighthizer to that meeting. Japanese Prime Minister Shinzo Abe and Trump will aim for agreement on that framework during their Feb. 10 meeting.

"I wish to discuss [Japanese] contributions toward improved productivity and competitiveness in the entire U.S. industrial sector, or a large framework that includes aid for infrastructure development," Abe told members of the lower house Wednesday. His government has started to lay out a comprehensive initiative addressing job growth....MORE