Japan hurting own businesses with trade retaliation against S. Korea: Global experts

Japan hurting own businesses with trade retaliation against S. Korea: Global experts

日 수출 보복 조치의 영향은 결국 일본 기업으로 돌아온다: 외국 전문가들

Japan’s trade retaliation measures against South Korea are expected to take a serious toll on local businesses firms already facing less than favorable economic conditions at home.
However, a number of global observers say Japan’s actions could end up boomeranging back on them…. and damage Tokyo’s reputation as a trustworthy trade partner.
Oh Soo-young has more.
What goes around comes around.
That’s what most observers seem to think will happen with Japan’s trade restrictions on South Korea.
Trade and diplomacy experts told Arirang TV that Tokyo’s export curbs on Korea will not only disrupt the global supply chain of key IT products,… but also backfire on Japanese businesses.

“Given the supply chains not just in Asia, but the rest of the World, American companies like Apple which rely on S. Korean semiconductor devices will be affected. But people actually forget it will also be Japanese companies too which are going to suffer from their own government’s decisions. They are after all the biggest suppliers to South Korean semiconductors and also sometimes receivers of South Korea’s final goods like Sony. So Japanese firms are going to suffer both suppliers and from the recieving end of South Korea’s semiconductor devices.”

Japan’s trade retaliation against South Korea,… related to the dispute over Tokyo’s use of Koreans in forced labor,… has sparked concern around the world.
Its actions undermine the global trading norms and institutions,… as well as efforts for multilateral cooperation.

“The decision by Japan to remove S. Korea from its whitelist is being presented by the Japanese government is based on national security considerations. I don’t think the evidence really suggests that’s the principle reason and Tokyo, as many critics have pointed have been slow to really provide any concerete empirical evidence to support that claim… it’s reacting in a way that is a departure from traditional norms. In a context where states, not just Japan but the U.S. are using trade pressure as a reason for resolving diplomatic issues and that is unfortunate.”

Washington has traditionally been a mediator for the two neighbors in resolving bilateral disputes. But this time around,… experts say the U.S. is not likely to step in.

“Trump administration has shown no real appetite to play that sort of role. What I would recommend is, as a matter of urgency, that the Japanese and South Korean government set up their own joint working group to at least attempt to create a space in which dialogue can take place between the two countries.”

Seoul has consistently reached out to Tokyo to settle the matter through dialogue.
But the Abe administration has rejected these attempts,… despite warnings that its actions will have repercussions in its own backyard.
Oh Soo-young, Arirang News.

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