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Meet the Chinese Billionaire Who’s Moving Manufacturing to the U.S. Because It Will Lower Costs

Meet the Chinese Billionaire Who's Moving Manufacturing to the U.S. Because It Will Lower Costs

There is no question that manufacturing has taken a hit in this country over the past few decades.

It is a problem that has clearly been made worse by President Obama over the last 8 years.

But, there are some glimmers of hope.

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The following story might surprise you a little bit…

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From MSN:

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While it has been said for a long time that the U.S. is bleeding manufacturing jobs overseas, particularly to China, some businesses have been moving operations the other way round.

And now, the head of a leading Chinese glass maker making the same move has openly questioned if his country really is such a lucrative destination for offshore factories, reports Hong Kong newspaper the South China Morning Post.

Overall speaking, the tax burden for manufacturers in China is 35% higher than in the U.S., Cao Dewang told China Business Networkin an interview. He added that a combination of cheap land, reasonable energy prices and other incentives means that, despite higher manufacturing costs, he can still make more money by making glass in the U.S. than by exporting Chinese-made panes to the U.S. market.

His company, Fuyao Glass, has invested over $1 billion stateside, according to the Post, the most significant move of which is opening its U.S. factory in the Ohio town of Moraine, a suburb of Dayton, back in October. The glass maker is re-purposing the town’s former General Motors assembly that had been standing empty since late 2008, as the Dayton Daily News reports.

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That works…

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You like stories like this?

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Just wait until the Republicans in Congress and Donald Trump get behind the wheel.

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Secret Service Protecting Donald Trump's Grandson Caught Taking Selfies With Sleeping Boy

Secret Service Protecting Donald Trump's Grandson Caught Taking Selfies With Sleeping Boy

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