Japan

Japan's PM Warns Asian Leaders Not To Waste Wealth on Arms Race

A not very well hidden jab at China

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Japan's prime minister Shinzo Abe has launched a thinly-veiled attack on China warning Asia's leaders not to squander their newly-created wealth on an arms race that could shatter stability in the region.

"We must restrain military expansion in Asia, which could otherwise go unchecked. The dividend of growth must not be wasted on military expansion," he told the World Economic Forum in Davos.

Mr Abe said military budgets should be made "completely transparent" with full public disclosure in "a form that can be verified."