TOKYO - 'Made In China' Japanese goods may be the latest casualty of the coronavirus pandemic, as Prime Minister Shinzo Abe resolves to wean firms off their dependence on China.. Read more at straitstimes.com.
TOKYO -"Made In China" Japanese goods may be the latest casualty of the coronavirus pandemic as Prime Minister Shinzo Abe resolves to wean firms off their dependence on China.
"But in the medium to long term, there will likely be a shift to 'Plus China'," he added, as companies reduce risks by putting fewer eggs in the Chinese basket. The first cluster of Covid-19 infections had occurred at a wholesale market in Wuhan, triggering a lockdown of the city and factory closures across China.
The plan to support businesses diversify from China, which is part of Japan's 108 trillion yen stimulus package, urges"the return to domestic production any products or materials that are highly dependent on a single country". Dr Akio Takahara of University of Tokyo's Graduate School of Public Policy said the decoupling policy is not uniquely Japanese.
But Covid-19 threatens to derail more than just President Xi Jinping's visit, which was slated for spring but has now been postponed.
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