- February 7, 2023
- Posted by: admin
- Category: Daily News
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- Taiwan is nudging its small and burgeoning companies to expand in Japan rather than mainland China, in a fresh sign of global supply-chain decoupling amid Sino-US tensions.
- Head of Taiwanese government-backed group says shift to Japan is being encouraged as ‘one of the new government policies’
- They also said government agencies are not allowed to steer start-ups toward mainland China, even though it has been the major offshore landing spot for Taiwanese capital since the 1980s.
- The island’s domestic start-ups are being encouraged to enter the Japanese consumer market or partner with companies from the neighbouring Asian economy
- Taiwan’s tilt toward Japan follows efforts in the West over the past few years to diversify supply chains away from mainland China.
- Tensions across the Taiwan Strait have been on the rise as US-China ties plunged in recent years. The US has also moved to cut China from the global supply chain of key technology products.
- Investments in Japan approved by Taiwan reached USD1.7bn in 2022, up from USD728.74mn in 2021 and USD964.37mn in 2020, according to data from the Ministry of Economic Affairs Investment Commission.
7-Feb-2023