TOKYO—A rising number of Japanese companies are expanding business in Southeast Asia and scaling down operations in China due to escalating tensions between Beijing and Washington, according to the Japan External Trade Organization.
Citing a JETRO survey conducted late last year, the government-backed body said in an annual trade and investment report that 41 percent of Japanese companies are considering expanding operations in Vietnam in the next three years or so, up 5.5 percentage points from a year earlier.
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