Posted on 02/28/2017 12:59:06 AM PST by 2ndDivisionVet
HONG KONG - China's largest auto glass manufacturer, Fuyao Glass Industry Group <600660.SS>, will press ahead with investments worth about $1 billion in the United States this year despite criticism at home amid growing China-U.S. tensions, the company's chairman said.
The company also expects to invest a further $130 million in Germany and Russia this year as it looks to tap into more high-end overseas markets, Cao Dewang told Reuters in an interview in Hong Kong on Monday.
Cao, whose company is already the biggest investor in Ohio, said he planned to create about 4,500 jobs by setting-up plants in Ohio, Illinois and Michigan this year.
The move has sparked outrage on Chinese social media, with netizens urging the government to stop Cao from "running away" at a time when U.S. regulators are stepping up scrutiny of Chinese buyers and new U.S. President Donald Trump has strongly criticized Chinese trade practices.
But Cao, who briefly met Trump last year, said the United States was a logical place to invest for Fuyao, which supplies almost every auto brand including Volkswagen , General Motors Co and Ford Motor Co .
"America is the biggest overseas market for us. I can and will make money in the U.S.," he said.
"Trump is a very smart person. His presidency will not affect Fuyao's investments in the U.S."(continued)
(Excerpt) Read more at todayonline.com ...
That said, it is important for AMERICAN companies to return to America.
That will be when things start turning around. When American companies, are building stuff right here again.
Not Chinese companies. That is good, but having American companies producing things in America again, would be even better.
I once worked for a Foxconn contractor. Best regular salary I ever made in my life, though I have made more in sales.
I’m going back to sleep now. Just thought you’d want to know.
Yes!!
that’s a LOT of jobs!!
We’re not talking 300.
To me, THIS is a global economy.
I’d rather have American companies doing most of the hiring but the 4500 people will GLADLY take the jobs
And it makes hostilities a little less likely, as China would have much to lose.
Win again...
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