M'sia to benefit from Japan's shift from China to Asean

Realising that it is economically not prudent to put "all the eggs in China’s basket", Japan's industries are quietly diversifying their investments and trade practices by moving closer to Asean member states.

This shift will certainly benefit Malaysia as the country is seen as an attractive investment destination, with a well-developed infrastructure and abundant natural resources, Japan-friendly people and an important "stepping stone" providing easy access to the rest of the Asean market.

Japanese businessmen attending events organised by the Japan Society in New York told Bernama that many Japanese corporations, which faced economic uncertainties and downturn in recent years in major global markets, are increasingly eyeing the Asean region to intensify trade and business, besides looking for investment opportunities.

Japan's domestic market is again looking bullish in the face of economic growth in the country, thus strengthening the ability of Japanese companies to explore opportunities abroad.

"Japan has not completely turned its back on China but wants to reduce its dependence on China and diversify its economic interaction with the Asean regional grouping, which is inherent with good trade and business potentials," Yumiko Kawasaki, a New Jersey-based economist who does research on Asian economies, told Bernama.