Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,660,463 members, 6,247,101 topics. Date: Saturday, 17 April 2021 at 07:07 PM

Japan To Fund Firms To Shift Production Out Of China - Foreign Affairs - Nairaland

Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Japan To Fund Firms To Shift Production Out Of China (48673 Views)

Magnitude 7.2 Earthquake Hits Japan. Tsunami Advisory Issued (Video, Photos) / Hong Kong Lawmakers Fight Over Bill To Criminalise Abuse Of China's Anthem (Pix / Japan Reopens Beaches Hit By 2011 Nuclear, Tsunami Disaster(photos) (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (13) (Reply) (Go Down)

Japan To Fund Firms To Shift Production Out Of China by DZTech: 11:15pm On Apr 11, 2020
By Isabel Reynolds and Emi Urabe

Pandemic budget includes 240 billion yen to support moves
Policy comes after Xi visit to Japan was postponed on virus
Global Cost of Coronavirus Could Reach $4.1 Trillion: ADB

Japan has earmarked of its record economic stimulus package to help its manufacturers shift production out of China as the coronavirus disrupts supply chains between the major trading partners.
The extra budget, compiled to try to offset the devastating effects of the pandemic, includes 220 billion yen ( ) for companies shifting production back to Japan and 23.5 billion yen for those seeking to move production to other countries, according to details of the plan posted online.

The move coincides with what should have been a celebration of friendlier ties between the two countries. Chinese President Xi Jinping was supposed to be on a state visit to Japan early this month. But what would have been the first visit of its sort in a decade was
postponed a month ago amid the spread of the virus and no new date has been set.
China is Japan’s biggest trading partner under normal circumstances, but imports from China slumped by almost half in February as the disease shuttered factories, in turn starving Japanese manufacturers of necessary components.

That has renewed talk of Japanese firms reducing their reliance on China as a manufacturing base. The government’s panel on future investment last month discussed the need for manufacturing of high-added value products to be shifted back to Japan, and for production of other goods to be diversified across Southeast Asia.
“There will be something of a shift,” said Shinichi Seki, an economist at the Japan Research Institute, adding that some Japanese companies manufacturing goods in China for export were already considering moving out. “Having this in the budget will definitely provide an impetus.” Companies, such as car makers, that are manufacturing for the Chinese domestic market, will likely stay put, he said.


Testing Times
Japan exports a far larger share of parts and partially finished goods to China than other major industrial nations, according to data compiled for the panel. A February survey by Tokyo Shoko Research Ltd. found 37% of the more than 2,600 companies that responded were diversifying procurement to places other than China amid the coronavirus crisis.
Japan Unveils Record Stimulus Amid Virus Emergency
It remains to be seen how the policy will affect Prime Minister Shinzo Abe’s years-long effort to restore relations with China.

“We are doing our best to resume economic development,” Foreign Ministry spokesman Zhao Lijian told a briefing Wednesday in Beijing, when asked about the move. “In this process, we hope other countries will act like China and take proper measures to ensure the world economy will be impacted as little as possible and to ensure that supply chains are impacted as little as possible.”
The initial stages of the Covid-19 outbreak in China appeared to warm the often chilly ties between the two countries. Japan provided aid in the form of masks and protective gear -- and in one case a shipment was accompanied by a fragment of ancient Chinese poetry. In return, it received praise from Beijing.
In another step welcomed in Japan, China declared Avigan, an anti-viral produced by Japan’s Fujifilm Holdings Corp. to be an effective treatment for the coronavirus, even though it has yet to be approved for that use by the Japanese.

Yet many in Japan are inclined to blame China for mishandling the early stages of the outbreak and Abe for not blocking visitors from China sooner.
Meanwhile, other issues that have deeply divided the neighbors -- including a territorial dispute over East China Sea islands that brought them close to a military clash in 2012-13 -- are no nearer resolution.
Chinese government ships have continued their patrols around the Japanese-administered islands throughout the crisis, with Japan saying four Chinese ships on Wednesday entered what it sees as its territorial waters.
— With assistance by Lucille Liu
(Updates with comment from economist in sixth paragraph)

https://www.bloomberg.com/news/articles/2020-04-08/japan-to-fund-firms-to-shift-production-out-of-china

27 Likes 3 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by Jayjezey: 11:17pm On Apr 11, 2020
China will fall soon

234 Likes 13 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by ssegs5(m): 11:18pm On Apr 11, 2020
.
Re: Japan To Fund Firms To Shift Production Out Of China by Nobody: 11:21pm On Apr 11, 2020
I love this

US should do the same.

God supposed punish China small.



Jayjezey:
China will fall soon


They won't fall but it will reduce their economic power

236 Likes 20 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by Friendlyjoe: 11:56pm On Apr 11, 2020
Welcome developement.


If you've ever worked in a chinese company, you'll know how heartless this chinkos are

281 Likes 17 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by valarmorghulis: 12:02am On Apr 12, 2020
I think that's the right step, imagine France and US fighting over face mask from China?
They can't even produce enough face mask in US/france they had to rely on China.
I don't blame China sha, why would u allowed ur companies(apple, Nokia, Microsoft, volvo etc) moved to China all because of cheap labour, relax ur immigration law, allow immigrant to come and work, pay tax to d govt.

343 Likes 24 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by GamalNasser: 12:04am On Apr 12, 2020
I predicted this two weeks ago , next America will move production to India and let's see what China is

96 Likes 4 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by DZTech: 12:06am On Apr 12, 2020
GamalNasser:
I predicted this two weeks ago , next America will move production to India and let's see what China is
my own is dt we should calculate our losses and bill dem.
simple.

62 Likes 3 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by GamalNasser: 12:17am On Apr 12, 2020
DZTech:
my own is dt we should calculate our losses and bill dem.
simple.

They will certainly be billed and we all deduct from what ever we are owing them ..me sha I know America won't pay them that 1.9trillion they owe Dem again

55 Likes 1 Share

Re: Japan To Fund Firms To Shift Production Out Of China by sammyj: 12:19am On Apr 12, 2020
grin Good development. Let us see how the virus ridden China survive this industrial exodus ! grin

32 Likes 3 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by sammyj: 12:26am On Apr 12, 2020
The company producing the face mask 3M is an American own company that manufactures its products in China the capital of Wuhan virus!!!
valarmorghulis:
I think that's the right step, imagine France and US fighting over face mask from China?
They can't even produce enough face mask in US/france they had to rely on China.
I don't blame China sha, why would u allowed ur companies(apple, Nokia, Microsoft, volvo etc) moved to China all because of cheap labour, relax ur immigration law, allow immigrant to come and work, pay tax to d govt.

42 Likes 1 Share

Re: Japan To Fund Firms To Shift Production Out Of China by valarmorghulis: 12:29am On Apr 12, 2020
sammyj:
The company producing the face mask M2 is an American own company that manufactures its products in China the capital of Wuhan virus!!!
Still doesn't change the fact that they rely on China

47 Likes

Re: Japan To Fund Firms To Shift Production Out Of China by Azmanaty: 5:37am On Apr 12, 2020
This Chinese virus has taught the world a lesson

71 Likes 5 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by Elzakzaky: 5:37am On Apr 12, 2020
sad
Re: Japan To Fund Firms To Shift Production Out Of China by XshegzzyeeiX(m): 5:39am On Apr 12, 2020
Stay strong Nlanders.
We will scale through this pandemic.

#PleaseAvoidCrowds
#BeHopeful
#StaySafe

21 Likes

Re: Japan To Fund Firms To Shift Production Out Of China by grandstar(m): 5:39am On Apr 12, 2020
Is this right or wrong? I can't yet say but my instinct says it's wrong. The Japanese government should not give handouts for companies to leave China.

China would appreciate any country that stands with it in this time of calamity. Japan seems to have blatantly done the opposite as though taking the gloves off when there was no need to wear them in the first place.

Yes, China's land grabs has soured relations with Japan but that's another issue altogether. The true belligerent is China's head of state who has a conservative no nensense alienate-your-neighbours attitude to things.

I suspect once he's gone, China will return to its peaceful-rise policy which the present head has thrown out through the window.

11 Likes 2 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by InspireWealthB: 5:39am On Apr 12, 2020
Great move by Japan

9 Likes

Re: Japan To Fund Firms To Shift Production Out Of China by simple250: 5:39am On Apr 12, 2020
This is just the beginning...China never know wating hit them...

47 Likes 3 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by AreaFada2: 5:40am On Apr 12, 2020
Welcome to the New World Order.

Brexit. Protectionism. Nationalism. Na Africa I just dey pity.

5 Likes

Re: Japan To Fund Firms To Shift Production Out Of China by digicreator: 5:40am On Apr 12, 2020
Oops
Re: Japan To Fund Firms To Shift Production Out Of China by WandaNara: 5:41am On Apr 12, 2020
Dullardinhó

35 Likes 2 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by timesup234: 5:41am On Apr 12, 2020
Nothing to see here. The Japanese economy has been dead and buried for almost 30yrs no thanks for them for being a slave to the United States. In contrast the Chinese economy is $8 trillion bigger than the United States in purchasing power parity. Japan is a ant. The Chinese dont a fvck about them

35 Likes 2 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by seunlayi(m): 5:42am On Apr 12, 2020
Ok
Re: Japan To Fund Firms To Shift Production Out Of China by tomdon(m): 5:42am On Apr 12, 2020
That is a thinking government.
We should collaborate with china and not be subservient.
But no, our leaders prefer the money in their personal pockets than for the nation's development

4 Likes 2 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by KingSekani(m): 5:42am On Apr 12, 2020
I hope China is ready for what's coming.

It won't be the Japanese government alone

14 Likes 2 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by seunlayi(m): 5:42am On Apr 12, 2020
Friendlyjoe:
Welcome developement.


If you've ever worked in a chinese company, you'll know how heartless this chinkos are

Seconded

5 Likes

Re: Japan To Fund Firms To Shift Production Out Of China by t00dugged(f): 5:43am On Apr 12, 2020
Good. All the china defenders doing copy and paste on every thread about how Western propaganda is painting China bad will avoid this thread.

48 Likes 2 Shares

Re: Japan To Fund Firms To Shift Production Out Of China by seunlayi(m): 5:44am On Apr 12, 2020
John6697:
see below

This one must be an idhot
Re: Japan To Fund Firms To Shift Production Out Of China by ignis: 5:47am On Apr 12, 2020
Impossicant
Re: Japan To Fund Firms To Shift Production Out Of China by realstars: 5:47am On Apr 12, 2020
All Eyes On China,

5 Likes

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (13) (Reply)

Man Is Forcefully Bathed In Public By His Friends (Pictures) - Cameroun / Bernie Sanders Drops Out Of The Presidential Race / Sudan president detained in South Africa pending court order

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 92
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.