Chinese Billionaire Moves Factory to USA

What does he know that US Corporations don’t? Or what do they know that he does not? Does his story suggest a US Tax Myth? Will China respond as US critics who cry that US corporations be penalized for going offshore?

The fact is that taxes are 35% higher in China than in the U.S. for manufacturers
with land and energy prices also being cheaper.
All of this means that despite the higher cost of actually manufacturing his glass and exporting it to China,
he can make a bigger profit by making the glass in the U.S.

Sourced through Scoop.it from: www.celebritynetworth.com

A Chinese company moving production to the U.S. goes against conventional wisdom. That didn’t stop Cao Dewang.

For years, we’ve been hearing about jobs moving overseas—particularly manufacturing jobs. The justification for this is that the cost of labor and doing business in the U.S. is just too high compared to countries like China. Well, one Chinese billionaire is actually moving his business to the U.S. and the reason why might surprise you: taxes and land are cheaper in the United States.

Cao Dewang is the billionaire owner of Fuyao Glass and he became the biggest Chinese investor in Ohio after he moved his company from China to the U.S. Dewang cited the tax burden as a reason for the move. The fact is that taxes are 35% higher in China than in the U.S. for manufacturers with land and energy prices also being cheaper. All of this means that despite the higher cost of actually manufacturing his glass and exporting it to China, he can make a bigger profit by making the glass in the U.S.