Who says Japan and China aren’t talking about the new Asian Infrastructure Investment Bank (AIIB)?
Jiji Press reports the finance honchos from the two nations will hold financial talks in Beijing on Saturday for the first time in three years and sources say the AIIB will be on the agenda.
Japanese Finance Minister Taro Aso said at a Tuesday press conference in Tokyo that he will meet with his Chinese counterpart, Lou Jiwei, this weekend and that they will discuss growing infrastructure demand in Asia. Japan said last week that it’s funneling up to $110 billion dollars over the next five years to boost infrastructure spending throughout the region. China has set a funding target of $100 billion for its competing AIIB.
Saturday’s meeting will be the first bilateral financial dialogue between Japan and China since April 2012.
Categories: Asia Unhedged