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Japan Inc’s growing China challenge
Shiseido, Uniqlo and Toyota – each sheds light on the promise and perils of the China market.
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A sign calling for the suspension of Japanese seafood products is seen in Beijing in August 2023. Increasing tensions between the two countries has seen trade cratering.
PHOTO: AFP
William Pesek
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Japan’s corporate chieftains began the year with a serious spring in their steps, compliments of China. The emergence of Asia’s biggest trading power from the self-inflicted stumbles of the Covid-19 era seemed sure to unleash a consumption boom for the economic history books.
Now, as 2024 beckons, Japan Inc is left wondering how, oh how, it has all gone so wrong as Japan-China trade craters.
