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Japan Is Spending Over $2 Billion To Urge Companies To Leave China

The Japanese government is offering incentives for companies to take their business back to Japan or other countries.

Mark Andrew

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  • Japan has announced that they are spending more than $2 billion to urge manufacturing companies to move out of China.
  • This initiative comes as part of the country’s plan to combat the economic impact of the coronavirus pandemic.
  • Firms from other countries, such as the United States, are also leaving China, although there are no similar incentives from their government.

Japan recently made headlines after declaring that they are spending billions to encourage Japanese companies based in China to move out and bring their businesses back to the country – or anywhere else, for that matter.

Yes, it looks like Japan is serious about abandoning China following the coronavirus pandemic that shook the entire world. As many observers have pointed out, China’s alleged coverup of the disease has led to an alarming health crisis and a global economic problem.

In a report by Bloomberg, we read:

“The extra budget, compiled to try to offset the devastating effects of the pandemic, includes 220 billion yen (US$2 billion) 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.”

With this big announcement, Japan is obviously showing that they want to decrease their reliance on China as a “manufacturing base,” wrote Bloomberg. Now they’re hoping that companies will be attracted by the incentives so that they set plans to return to Japan or establish new bases in other Southeast Asian countries instead.

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China has always been the “biggest trading partner” of Japan but things rapidly changed after “imports from China slumped by almost half in February as the disease closed factories.”

Similarly, several American companies in China are also leaving one by one although there are no official directives from the U.S. government so far. It is expected that other countries will soon follow the same move.

Meanwhile, Beijing’s Foreign Ministry spokesperson Zhao Lijian said:

“We are doing our best to resume economic development. 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.”

It remains to be seen how Japan’s unprecedented move will affect the relations between the two countries.

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Man Gets Jailed For Stealing Surgical Masks From a London Hospital

He got a three-month sentence for taking three surgical masks.

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  • Lerun Hussain was charged with theft for taking three masks at a busy hospital.
  • Earlier, a surgery practice was robbed of its surgical masks.
  • Hospital staff was advised to protect themselves from people looking to steal medical supplies.

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Coronavirus Symptoms Reoccur in 91 of South Korea’s Recovered Patients

South Korean official said the virus may have been “reactivated” rather than the patients being re-infected.

Susie Steck

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  • South Korean health officials announced this week that the virus of at least 91 recovered coronavirus patients has been "reactivated."
  • The new trend, they said, remains unclear, and that epidemiological investigations are still on going.
  • It is also unclear if the recovered COVID-19 patients are already immune from contracting the virus again.

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Truck Drivers And Other Frontline Workers Can Have $25K Hazard Pay From “Heroes Funds”

Those entitled for the fund include medical workers, grocery store staff, pharmacists, and truck drivers, among others.

Susie Steck

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  • U.S. Senate Democrats have recently proposed a "Heroes Fund" law that will distribute major hazard payouts for workers at the frontlines of the battle against the dreaded coronavirus (COVID-19).
  • Frontline workers who earn less than $200,00 per year will receive a hazard payout of $25,000; while workers who earn more than $200,000 per year will receive a heroes' pay of $5,000.
  • The funding will be given to their employers who will be responsible to distribute the payouts and provide proof of payments to the federal government.

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