Half of Japanese companies have seen their profits hurt by the U.S.-China trade ...
TOKYO - Half of Japanese companies have seen their profits hurt by the U.S.-China trade war, although few firms are planning to shift operations or supply chains out of China yet, a Reuters poll found.
The trade war between the world’s two biggest economies and a related global slowdown are hurting output and exports in Japan. Manufacturers’ confidence hit a six-and-half year low in September, the Reuters Tankan poll found on Thursday. That is worse than a similar Reuters poll last October that found just one-third of Japanese companies hit, with 58% of Japanese firms hardly affected by the trade war and 8% seeing no impact.
“I’m concerned that could trigger a global depression,” wrote a manager at an electric-machinery maker, responding to questions in the survey.
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