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TOKYO (Reuters) -Japanese firms with strong Chinese ties are seeing their shares fall ahead of a meeting of Prime Minister Yoshihide Suga and U.S. President Joe Biden, as investors fear pressure to align Japan more closely with Washington’s tough stance on Beijing.
FILE PHOTO: Japanese Prime Minister Yoshihide Suga announces that Tokyo, Kyoto and Okinawa will have pre-emergency status under a new prevention law during a government task force meeting at the prime minister s office, Tokyo, Japan, April 9, 2021. Eugene Hoshiko/Pool via Reuters
Shippers, retailers and manufacturers of various machines and components with significant dependence on Chinese demand could bear the brunt of further diplomatic tension in the form of trade restrictions or popular boycotts, analysts said.
CHINA / DIPLOMACY
By Xing Xiaojing and Yin Yeping Published: Apr 15, 2021 02:24 AM
A worker selects tomatoes at a tomato processing plant in Bohu county, Northwest China s Xinjiang Uygur Autonomous Region, August 5, 2020. Photo:Xinhua
Kagome, Japan s king of ketchup, has stopped importing tomatoes from China s Xinjiang, becoming the first major Japanese company to stop doing business with the region over Xinjiang-related issues. Experts said that it could not be ruled out that the motivation for the Japanese company to make a statement on Xinjiang-related issues was to use this as a gift from Japan to the US on the eve of the Japan-US summit on Friday.
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