Many manufacturers are moving out of China due to Coronavirus.

Firms do not aim to completely move out of China but are looking for diversifying to other countries to reduce dependency on China.

Firms do not aim to completely move out of China but are looking for diversifying to other countries to reduce dependency on China.For businesses, adjusting supply chains in the wake of the coronavirus pandemic means expanding from China, not necessarily leaving. A key component of that strategy is building flexibility- the ability to switch quickly from different production sources in response to future challenges.

Experts say China will no longer be the 'factory for the world' and what businesses are heading to is more fragmented manufacturing -many small factories of the world.

India, on the other hand, stands a good chance to emerge as a reliable substitute, given its congenial landscape for manufacturing as well as its vast consumer market.

Japan has earmarked $2.2 billion of its record economic stimulus package to help its manufacturers shift production out of China. the package covers companies who want to shift back to Japan and those seeking to move production to other countries.

Just as some countries are pressuring companies to leave China and return to their home countries, Beijing is building its case for companies to stay back. In press conferences, Chinese officials have emphasized the attractiveness of their market to businesses.

Since China still has an attractive total supply chain solution the firms may not completely move out overnight but they do realize that there is no point in keeping all eggs in one basket.

The COVID-19 pandemic has given rise to a lot of potentially dangerous misinformation. For reliable advice on COVID-19 including symptoms, prevention and available treatment, please refer to the World Health Organisation or your national healthcare authority.