Aso says Japan firms' piling up of internal reserves has gone too far
[TOKYO] Finance Minister Taro Aso on Friday criticised Japanese companies for piling up their internal reserves too much, and said the government needed to take steps to encourage them to increase spending on wages and business investment.
Mr Aso, speaking to reporters after a cabinet meeting, also brushed aside some media reports that said the United States had strongly demanded talks on a bilateral free trade agreement during an economic dialogue this week.
Mr Aso, who doubles as deputy prime minister, met Vice-President Mike Pence for the dialogue in Washington.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India's Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise