The world is losing interest in China. The recent announcement of Microsoft to close its two factories and transfer to Vietnam could cost 9,000 Chinese jobs. The same thing can be devastating in the years to come as Japan has announces moving at least 300 factories from China to the Philippines.
The tension on disputed South China Sea is only getting stronger. Vietnam and the Philippines are forging ties to counter China’s aggression, and Japan is willing to take part indirectly. Japan announced last week that it is seeking permission from the Philippine government to use the country’s military bases to support US military pivot forces.
The details are not yet clear but a possible agreement between the concerned parties can be done sooner or later according to a PH military spokesperson. Japanese bicycle maker Shimano has just opened a P1.2B facility in Batangas, and dozens more factories are likely to follow according to the Japanese Embassy.
Mitsubishi Power Industries is another giant who is scheduled to move to Philippines according to latest news. Japanese watchmaker Citizen also shut down its China factories and the fate has yet to be decided whether it will move to the Philippines or Vietnam. Another 300 Chinese workers lost their job after electronic giant Panasonic closed one of its Chinese factories.
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