Due to rising US-China trade tensions, Japan companies are scaling back their China operations and shift focus to Southeast Asia. – EPA file pic, August 17, 2020.
MORE Japanese firms are expanding business in Southeast Asia and scaling down operations in China due to its escalating tensions with the United States, reported Vietnam News Agency. Japan External Trade Organisation’s new trade and investment report quoted its survey conducted late last year as saying that 41% of Japanese companies are considering expanding operations in Vietnam in the next three years or so, up 5.5 percentage points from a year earlier, and 36.3% of respondents had given a similar answer for Thailand, up 1.5 percentage points.
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Source: News Formal (newsformal.com)
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