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JAPAN WILL PAY ITS COMPANIES TO LEAVE CHINA
The Japanese Government pushed the button to take an important step towards China. Japan will pay its companies to leave China.
Yazar: Tom Roberts
Yayınlanma: 20 Temmuz 2020 19:24
Güncellenme: 22 Kasım 2024 05:29
JAPAN WILL PAY ITS COMPANIES TO LEAVE CHINA
The security law that China implemented in Hong Kong caused tense relations with Japan. According to the news in Bloomberg, the Japanese Government pushed the button to take an important step towards China. Accordingly, the government has prepared a budget of $ 536 million for Japanese companies to bring their factories in China back to the country or move them to another country in Southeast Asia. This budget may increase even more.57 PRODUCTION COMPANY WILL LEAVE FROM CHINA
Other reasons for Japan to take this step are to reduce the dependence on China in production and make the supply chain safer. In a statement made by the Ministry of Economy, Trade and Industry of Japan, it was stated that 57 companies, including Mask maker Ohyama and Sharp would move their factories from China. Then 30 more companies are expected to be added to these.THE FIRST STEP CAME FROM THAILAND IN 2019
Japanese companies are expected to have new addresses mostly in Vietnam, Thailand and Myanmar. There are also companies preparing to open factories in different Southeast Asian countries. The ministry has not yet elaborated on how much financial support will be provided to which company. After the trade wars between the USA and China, many countries began to discuss removing the production line from China. The first step in this direction came from Thailand in 2019. Japan was the second country to provide financial support to their companies to move out of China.THE BIGGEST TRADE PARTNER BUT…
In fact, China is Japan's largest trading partner. However, the onset of the corona virus epidemic in China has damaged the image of this country in the eyes of the Japanese people. In 2012, many anti-Japanese demonstrations were held in China, and Japanese Prime Minister Shinzo Abe has taken steps to strengthen relations since then. However, the epidemic, the ongoing territorial dispute over the islands and gas fields in the East China Sea, caused Abe to step back in these efforts.İLGİLİ HABERLER
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