Japan to pay its companies to move factories out of China

In an initiative taken to secure local supply chains and reduce dependency on China, the Japanese government has decided to pay its companies for moving factories out of China and back home. Japan reportedly will be paying 57 companies a sum of $536 million to bring their manufacturing back to Japan. Another 30 firms will be paid a sum amount to move their manufacturing of Vietnam, Myanmar, Thailand and other Southeast Asian nations. 

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