(ZEROHEDGE) – In what could be the beginning of a trend, Japanese company Kyocera is now investing in production in its home country of Japan because it says China can no longer be relied on as the “world’s factory”.
U.S. sanctions on China’s access to advanced technology have become a headwind in the country’s ability to act as a manufacturing base for exports, a new report from FT says. Kyocera is constructing its first factory in Japan in almost 20 years as a result.
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President Hideo Tanimoto said: “It works as long as [products are] made in China and sold in China, but the business model of producing in China and exporting abroad is no longer viable. Not only have wages gone up, but obviously with all that’s happening between the U.S. and China, it’s difficult to export from China to some regions.”
