Japanese companies should diversify their businesses to Asian countries outside China because of concerns that Asia’s second-biggest economy is overheating, the trade ministry said in a White Paper yesterday.
Toyota Motor Corp., Sony Corp. and other Japanese companies have been moving some factories to China to take advantage of lower labor costs and tap rising demand in an economy that has grown at an average of about 9 percent over the last three years, compared with about 1.2 percent at home.
See also: Japan’s white paper adds chill to China ties from Xinhua.
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