Shanghai (AFP) – A Chinese auto glass tycoon has caused a stir by shifting part of his empire to the United States and setting up a factory in Ohio, citing high taxes and soaring labour costs at home.
Cao Dewang’s $600-million investment comes after Donald Trump threatened to declare Beijing a currency manipulator and slap 45 percent punitive tariffs on Chinese imports to protect American jobs.
The 70-year-old tycoon’s decision to open a glass factory in the eastern American state of Ohio in October — a rare case of jobs being exported from China to the US — triggered an outpouring of criticism on social media.
The phrase “Cao Dewang has escaped” became a hot topic, generating nearly 10 million views on the Twitter-like Weibo microblog and many comments urging China to “not let Cao Dewang run away”.
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3 comments:
China is called a currency manipulator only because the government refuses to PRINT THE YUAN at the same pace the FEDERAL RESERVE COUNTERFIEITS THE US DOLLAR.
It is the Fed who prints money out of thin air.
Not the other way around.
Get a clue folks. Our government is held hostage by international bankers who print money from paper. The US dollar has no intrinsic value at all! None! It is worthless paper.
Eventually the other countries will gang up on the US and refuse to accept its worthless currency as exchange for their labor and natural resources. That is when the US economy will collapse into a heap of ruin.
Hopefully a lot more foreign businesses will set up factories in the US. That will provide jobs and if taxes are kept low the money will stay in the US.
you need to go back to economics. China is one of the biggest manipulators in the world. Sure we print money out of air but read up on what they do.
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