Japan Offers Its Companies $2.2 Billion To Pack Up And Leave China
Given the fact that the ongoing coronavirus is taking a heavy toll on the world, one wonders whether this situation could have truly been avoided. The answer leans towards a heavily yes given the way China downplayed the situation of the coronavirus in its initial stages when it raged in Wuhan. In fact, situation report provided by China and echoed by the World health organization on its website reports went as far as saying that all was well and that there was no evidence of human transmission abilities of the virus. But, look what’s happened now? So much for that theory debunked on its head by the large toll the virus has extracted from the world today.
1Japan is paying its companies to relocate from China
With such an attitude by China, a country known to care a damn about its own citizens, let alone the rest of the world, the questions now asked are should the world still be patronizing China with business and trade? The world is flooded with Chinese goods, and many are suggesting that it’s maybe time to go local. One country that has started the ball rolling is Japan where reports are out that the country is paying its companies to shift the productions out of China.
2The amount earmarked for the shift I $2.2 billion
Pack up and get out of there is what one headline read on the internet. A report I Bloomberg said that Japan is paying its companies a total of $ 2.2 billion to pack up and shift their manufacturing operations in China. You heard right. The country has earmarked $2.2billion as a stimulus package to assist its manufacturers in shifting production out of china stating that the coronavirus is disrupting its supply chain between its major trading partners.
3Japan is among China’s biggest trading partners that includes the US
Currently the countries that are China’s biggest trading partners are the USA topping the list followed by the European Union, Japan, Hong Kong, South Korea, Taiwan and Australia. While reports in Forbes stated that China was indeed losing a major chunk of companies, it really didn’t have anything to do with the coronavirus since the exodus started last year.