Japanese companies that operate in China to supply parts and materials to exporters there are affected more by US-China trade friction than other Japanese firms working in the country, according to the Japan External Trade Organization (JETRO).
Tesla Inc (TSLA.O) is cutting the price of its Model X and Model S cars in China, the U.S. firm said on Thursday, in a shift in strategy that will see it take more of a hit from tariffs linked to a biting trade war between China and the United States.
The world economy remains tepid and unstable a decade after the 2008 financial crisis, while growing trade conflicts are symptoms of deeper economic malaise, according to a new United Nations publication.
Business confidence among Japanese manufacturers was at its highest in seven months in August thanks to a firm global economy, a Reuters poll showed, but the service sector's mood hit its lowest since 2016, casting doubt on the robustness of domestic demand.
In the midst of escalating trade war tensions between China and the US, the economic health of each country seems to be going in the opposite direction. The US has a robust economy, while China, on the other hand, has been showing signs of an economic slowdown.