Home / World Business
Thu, Aug 15, 2002 - Page 12 News List

ASEAN's fears becoming economic reality

WAGE DIFFERENTIAL Low labor costs are driving companies in ever-increasing numbers out of ASEAN-member countries and into China, Japanese officials say

DPA , TOKYO

Sources in Indonesia have attributed the closures to restructuring after Aiwa was taken over by Sony, rather than a shift of manufacturing to China.

Minolta Co also plans to move assembly of its cameras from Malaysia to China in 2003.

A total of 15 large Japanese companies have so far announced plans to scale down operations in the ASEAN region and shift them to China. The move is expected to result in 17,000 people losing employment.

This story has been viewed 2308 times.
TOP top