Japan has earmarked ¥243.5 billion of its record economic support package to help manufacturers shift production out of China as the coronavirus pandemic disrupts supply chains between the major trading partners.
The extra budget, compiled to offset the devastating effects of the pandemic, includes ¥220 billion for companies shifting production back to Japan and ¥23.5 billion for those seeking to move production to other countries, according to details posted online.
Seki said some Japanese manufacturers in China that were focused on exports were already considering moving out.
In another step welcomed in Japan, China declared Avigan, an anti-viral drug produced by 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 all of China sooner.