A rising number of Japanese companies are expanding in Southeast Asia but scaling down in China as tensions escalate between Beijing and Washington, according to the Japan External Trade Organization.
Citing a JETRO survey conducted late last year, the government-backed body said in an annual trade and investment report that 41 percent of companies are considering expanding operations in Vietnam in the next three years or so, up 5.5 points from a year earlier.
The report, released on July 30, quoted the survey as saying that 36.3 percent of respondents had given a similar answer for Thailand, up 1.5 points, while 48.1 percent said they would boost business in China, down 7.3 points.