Missed this important news last July following Japan announcing $2Bn repatriation package to help relocate Japanese out of China both back to Japan and other Asian destinations, appears it has been very successful:
"Japan mulls ‘China exit’ for 87 manufacturing projects
As part of the plan, Japan's Ministry of Economy, Trade and Industry on Friday announced that 87 companies or groups will be provided with a total 70 billion yen ($653 million) to move their production lines out of China.
Japan is looking forward to reduce its reliance on China and build resilient supply chains, according to the Nikkei Asian Review report.
Of the companies, 30 will shift to Southeast Asia. This includes: Hoya Corporation, which will produce hard-drive parts in Vietnam and Laos; Sumitomo Rubber Industries, which will manufacture nitrile rubber gloves in Malaysia; and Shin-Etsu Chemical, which will shift its rare-earth magnet production to Vietnam, among others.
The rest 57 projects will move to Japan for their operations."
Obviously the important one here: "Shin-Etsu Chemical, which will shift its rare-earth magnet production to Vietnam"
Return from the Dragon
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