Carmakers quitting Britain won’t blame Brexit – it’s not in their interest | Phillip Inman

Business leaders know that mentioning the B-word just isn’t worth the risk of souring consumer sentiment

In 2012 a wave of anti-Japanese nationalism gripped China. Angry crowds burned down Japanese-owned factories, smashed Japanese-made cars and pelted Tokyo’s embassy in Beijing with eggs. It was an experience that jolted Japanese business leaders and they decided to make sure they never again relied on one country for essential widgets, and especially the finished article.

In the months before the Brexit vote, Japan’s government warned that a victory for the leave campaign could have a negative impact on investments in Britain. The Japan Business Federation, noting that more than 1,000 Japanese firms have a presence in Britain, joined the Japanese prime minister, Shinzo Abe, in pleading with Britain to remain in the EU.

Related: Honda’s Swindon plant closure could lead to 7,000 job losses

Related: Honda’s exit is based on many factors, but Brexit is certainly one | Larry Elliott

Continue reading…

Read full original article »