Chinese Glass Exporter Outsources Jobs to… the US?

Yahoo! News

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”.

Cao’s Fuyao Glass Indus­try Group — a suppli­er to big names includ­ing Volkswa­gen and Gener­al Motors — claims to be the biggest exporter of auto glass in the world, report­ing 2.6 billion yuan ($370 million) profits last year.

Cao defend­ed himself in an inter­view with the Beijing News Wednes­day, saying he “did not run and will not run. The centre of my business is in China because I’m Chine­se”.

Contin­ue reading…

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