Media reports said that Japanese watch maker Citizen shut down its factory in Guangzhou, south China’s Guangdong Province, and dismissed more than 1,000 employees right before the Chinese Lunar New Year, which fell on February 19 this year. In January Microsoft announced it will formally shut down manufacturing plants in Beijing and Dongguan, Guangdong Province, in the first quarter of 2015 and will move Nokia manufacturing from China to Viet Nam. A total of 9,000 employees will be dismissed in the wake of the shutdown of Beijing and Dongguan factories.
Media reports also said that many Japanese companies, including Panasonic, Daikin, Sharp and TDK, are planning to move their manufacturing bases back to Japan. Other multinationals, such as Uniqlo, Nike, Foxconn, Funai, Clarion and Samsung, are setting up factories in…
