Japanese manufacturers are making less at home and more abroad, especially in China (Toshiba has just announced that it is shifting to China all production of television sets for the Japan market).

ECONOMIST: Japan��s economy

The AP1000 from Westinghouse (now owned by Toshiba) is being built in China and America, and the EPR from Areva, a French company resulting from a merger between French and German nuclear-plant-builders, in China, Finland and France.

ECONOMIST: Safety

Invest in General Electric, Toshiba and Kyocera, which have good China exposure.

FORBES: Best Plays In Emerging Markets

The Japanese, who buy the majority of unprocessed rare earths from China, are certainly busy: Sumitomo and Toshiba are both setting up projects in Kazakhstan, and other Japanese investors are looking at buying mining rights in Vietnam.

FORBES: The Politics of Rare Earth

In addition to selling components to Toshiba, TDK has also built HDDs for the company in its partner SAE plant in China.

FORBES: Toshiba Makes Strategic Partnerships In Order to Compete in Hard Disk Drives