×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: japan | trump | jobs | economy

Japan Readies Package for Trump to Help Create 700,000 US Jobs

Japan Readies Package for Trump to Help Create 700,000 US Jobs

(DPC)

Friday, 03 February 2017 07:48 AM EST

Japan is putting together a package it says could generate 700,000 U.S. jobs and help create a $450-billion market, to present to U.S. President Donald Trump next week, government sources familiar with the plans said.

The five-part package, to be unveiled when Prime Minister Shinzo Abe visits Trump on Feb. 10 in Washington, envisage investments in infrastructure projects such as high-speed trains and cybersecurity, said the sources, who declined to be identified as they were not authorized to speak to the media.

Investing in overseas infrastructure projects dovetails with a key plank in Abe’s growth strategy, which is to export "high-quality" infrastructure technology.

Japan will invest 17 trillion yen ($150 billion) in public and private funds over 10 years, the sources said. That would include helping develop high-speed railways in the northeastern United States, and the states of Texas and California, and renovating subway and train cars.

The package also includes cooperation in global infrastructure investment, joint development of robots and artificial intelligence, and cooperation in cybersecurity and space exploration, among others.

The government may tap its foreign exchange reserves account to fund part of the package, the sources said.

It may also get funding from megabanks and government-affiliated financial institutions, as well as the Government Pension Investment Fund, the Asahi and other newspapers reported.

However, GPIF President Norihiro Takahashi said on Thursday there was no truth to reports that the Fund would invest as a part of the government package, adding that the Fund made its investment decisions to benefit policyholders.

 

© 2023 Thomson/Reuters. All rights reserved.


Economy
Japan is putting together a package it says could generate 700,000 U.S. jobs and help create a $450-billion market, to present to U.S. President Donald Trump next week, government sources familiar with the plans said.
japan, trump, jobs, economy
252
2017-48-03
Friday, 03 February 2017 07:48 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved