Apple move from china will impact on Asia’s economy

Apple-Black-iphone-market

World is going through a big crisis. We all are encrypted by Corona virus pandemic. No one can escape themselves from this curse virus. It’s an uncertain time for world. In this situation tech giant Apple can decide to go outside from China to India to get mass production of their products.

Apple is going to India from China

Panicked by the Corona pandemic, several large companies are trying to move their factories out of China. This time Apple is one of the worlds leading Smartphone makers write their name in this list. They can choose India their next destination to get new market worldwide.

Apple choose India their next destination

In this situation, India may be their new destination. The issue has been discussed in the last few days between senior Apple executives and senior Indian government officials. Tech giant Apple plans to move one-fifth of its production from China to India.

Apple-china-trade-tension
Apple-china-trade-tension

It is heard that the iPhone maker wants to increase their revenue by increasing their local production in India. Their goal is to raise earning 40 billion over the next five years. That is why they are looking for alternative production areas outside China.

Japan recent announcement against China

Japan, the world’s third-largest economy, suffered its worst quarterly GDP contraction in five years in the fourth quarter of last year. Growth has slowed as taxes have risen and a devastating typhoon has hit Japan’s economy. Statistics show that the country’s GDP contracted late last year before the novel coronavirus spread from China hit Japan. Compared to the third quarter, the last quarter of 2019 GDP has been seen to shrink by 1.6 percent. Japan’s Ministry of Health, Labor and Welfare reported on January 15 that a Japanese national returning from the Chinese city of Wuhan had been diagnosed with the first coronavirus. From then on, various organizations and offices in the public and private sectors began to take steps to prevent the spread of the disease in Japan. But suddenly the pleasure boat Diamond Princess anchored in the port of Yokohama next to Tokyo complicates the situation for Japan.

World-economy
World-economy

Japan recently announced 2.2 billion in financial assistance to companies that leave China to get rid coronavirus. Several other Asian countries are expected to make similar proposals for the next step. For this reason, India has proposed to allocate land with huge tax rebates, uninterrupted supply of electricity and water, and even raise capital to make these investments its own with tech giant.

USA launched a new law against China

Has the US-China Cold War re-emerged? The United States has launched a new move to put pressure on its economic rivals. The country’s upper house, the Senate, recently passed a new law that would make it harder for Chinese companies to get listed on the US capital market. News Bloomberg

Bangladesh and others developing countries are trying to get attraction from tech giant through diplomatic strategy. In this case all developing countries are trying to get out from their economic loss in this uncertain time.

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