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24%  
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  • China tycoon moves jobs to US, citing high taxes at home

    12/22/2016 11:41:38 AM PST · by grimalkin · 10 replies
    AFP via Yahoo! ^ | 12/22/16 | AFP
    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...