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The New York Times (may be pay-walled) reports that Terry Gou, the CEO of Foxconn has confirmed rumours aired in December to the effect that the company is considering building an additional factory in the United States. Yahoo Finance UK says that the factory, if built, "could create about 30,000-50,000 jobs." The South China Morning Post reports that the facility, expected to cost more than $7 billion, would make dot-matrix displays (such as used in television sets and mobile phones) under the Sharp name. Mr. Gou remarked that:
While it is difficult to have a clear analysis of the economic outlook for this year, due to looming uncertainties, three factors can be seen as clues. First, the rise of protectionism is inevitable. Secondly, the trend of politics serving the economy is clearly defined, and thirdly, the proportion of real economy is getting increasingly bigger.
Speaking in November, Gou had called on the incoming U.S. leaders to refrain from protectionist policies, The China Post had reported.
Additional coverage:
Related:
Foxconn Plans to Replace Nearly All Human Workers With Robots in Some Factories
Foxconn Acquires Sharp at a Lower Price Than Previously Agreed
Sharp Accepts $6.25 Billion Takeover Bid from Foxconn, but Foxconn is Wary of Debt
Softbank to Invest $50 Billion in the US
(Score: 5, Informative) by edIII on Tuesday January 24 2017, @08:56PM
How the fuck is Trump responsible for this? Are they going to be good paying jobs, or just more slave wages? Would it have happened with Hillary too? It the facility going to be built with H1B's like Elon Musk and how wonderful he was in Northern California?
That fucking orange speaking-out-his-anus idiot is just going to take credit for anything that happens while trying to spin it to be much better than it was. He accomplishes these YUUUUGE things that nobody else could accomplish nearly half as well! That Carrier deal was a fucking travesty and one of the extremely few times I can ever see myself agreeing with Palin. No tarrifs, no holding the executives over the fires, just bribe money. Only time I've heard insightful truth out of her mouth.
Trump BRIBED Carrier into keeping *some* of the jobs, and not all of them. But... but... but... he was supposed to be the STRONGMAN and stick it to corporations. Instead he was on his knees blowing the Carrier executives and offering them bribe money while cupping their balls.
Only thing Trump is accomplishing so far is the ruin of America. Conflicts of interest everywhere and every single cabinet nomination isn't for people to run the cabinet position well, but to destroy that section of government and obstruct all regulations and reasonable protections we had as Americans through them. The bullshit with removing millions upon millions of people's health care with no plans on how to provide it for them "better", and the elimination of Social Security will bring this country to its knees and bloody civil war.
If Trump is accomplishing anything, it's bringing corruption and malfeasance to new levels never before seen. I'm honestly curious as to how the Trump supporters are going to spin anything positive out of his actions now that they can see just how fucked they are. It's a repeat of Obama's betrayal of America, now just with a bombastic idiot and the Republicans instead of a slick used car salesman and the Democrats.
More deep fucking, just a different fist. Same shit different day..... but he's accomplishing something!!. LOL. Yeah. First major act was to bitch like a vindictive child that his inauguration day wasn't as YUUUGGGE as his ego told him it would be and the big bad media is somehow lying with 'alternative facts'.
In all fairness, he's accomplishing everything I expected he would be.
Technically, lunchtime is at any moment. It's just a wave function.
(Score: 3, Insightful) by Scruffy Beard 2 on Tuesday January 24 2017, @09:10PM
By ending free-trade, he is apparently making some factories on US soil more profitable for the alternative.
I don't like the guy, but want to acknowledge when he actually seems to be accomplishing at least one of his stated goals: bringing manufacturing jobs back to the USA.
It may be that once implemented, protectionists policies harm US exports. Time will tell.
(Score: 2) by shipofgold on Tuesday January 24 2017, @10:15PM
What nobody talks about is what will happen to prices of the goods we buy.
As far as I can tell there is only one direction the prices of those items "made in the USA" will go.
(Score: 4, Insightful) by Gaaark on Tuesday January 24 2017, @10:38PM
I would rather scrimp a bit more to buy 'Canadian' than to supply more Chinese people with jobs.
The only good thing I heard from Hillary was that employees should get profit sharing ( and I believe should get the same percentage as the Executives).
It's time to bring jobs back.
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 0) by Anonymous Coward on Tuesday January 24 2017, @11:29PM
And where are you going to "scrimp" from?
Cost of everything will go up. All the stuff that has become cheaper due to free trade is going to go up. Food, clothes, furniture, electronics. Even stuff that is still imported will go up because without tarrifs there is no way to stop 100% foreign companies from exporting cheap local-industry-undercutting products to the US.
Hey, maybe you make an engineers salary and have plenty of extra scrimpin' money.
But regular joes with blue collar jobs, they are on the edge already. They don't have scrimpin' money. And hiring robots ain't going to put any extra money in their wallets.
(Score: 3, Insightful) by Gaaark on Wednesday January 25 2017, @12:32AM
Whoa, slow down cowboy.
I do not make an engineer's salary: I am blue collar.
I do not have a cell phone: cannot afford it.
The last decent computer I had was pieced together from new case and motherboard with old parts.
I am planning on building myself, hopefully, finally, a new computer with more than 4GB of ram... I'd love 16GB and the guts to go with it, but for my scrimping, it will probably be refurbished and more like 12GB with lower scale guts.
I've been scrimping this for over a year, and still not there.
Bills get in the way; my son is autistic and on the expensive gluten free diet BECAUSE he is so much more SANE without gluten.
I scrimp, then the money gets used for paying bills, so I scrimp some more. At the rate I'm going, it will be another year, probably, maybe two.
I do not need instant gratification of 'oooh, new Apple shite!!!!!! Gasm!'
I scrimp, eventually I get where I'm going.
And yes, I'd scrimp longer for Canadian if I felt it wasn't a rip off price just because. I believe in community.
Just think... the Chinese shit you pay low prices for: what does it add to your life?, And how much cheaper would it be if the CEO and high executives didn't take such big salary's and bonuses.
And how much better would life be if the profits made were shared by ALL the company employees who LIVE and WORK and SPEND their money in YOUR community.
Think looong term, not short term "oooh, shiny!"
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 0) by Anonymous Coward on Wednesday January 25 2017, @12:34AM
> Just think... the Chinese shit you pay low prices for: what does it add to your life?
Food, clothing, furniture. Pretty much all the daily stuff.
> And how much cheaper would it be if the CEO and high executives didn't take such big salary's and bonuses.
I don't see anyone trying to fix that.
(Score: 2) by Sulla on Wednesday January 25 2017, @01:59AM
The prices for food would not change all that much with a greater level of protectionism, especially when in competition with China. It was only in the past few years when the FDA okayed the processing of chicken in China, but they still had to be American chickens.
I do not have a lot of money. Two infants and a wife, life with a family member with dementia to take care of her. Wherever I can I buy American, even if it costs more money. I buy local and shop at family owned shops when they are within reason. Depending on the product you are better paying vastly more for American over cheap imports. I saved up 400 and bought a pair of Whites Smokejumpers, a boot which is completely rebuildable and made in the USA. With moderate use I have gone three years without any issues or repairs except for applying oil, I imagine it will be another three before I need to get them resouled at a cost of 70 bucks. This is a much better deal than a new pair of tennis shoes for 15-20 bucks once a month.
We can compete, people just need to think about it harder.
Ceterum censeo Sinae esse delendam
(Score: 0) by Anonymous Coward on Wednesday January 25 2017, @08:02AM
I guess I have to be explicit - "china" is a proxy for "all other foreign countries" take a look at the labels of your food, not just chickens. Lots of frozen vegetables come from outside the US. And if there is not a "made/grown in usa" label then it is definitely of foreign origin.
(Score: 0) by Anonymous Coward on Wednesday January 25 2017, @03:46AM
You're not saving if you're buying clothes and furniture daily.
As for food you really don't want to eat the Chinese shit (in some case this might literally involve shit). In 2011 the Chinese Gov claimed that 10% of farmland was contaminated, more recently they said it was 20%. What is the real figure by USA standards?
(Score: 3, Insightful) by sjames on Wednesday January 25 2017, @12:56AM
It probably won't be as much as you think. Do you really think that iPhone is lovingly soldered by hand over an 8 hour period? I suspect the plant will be highly automated. Nevertheless, it will provide jobs and also improve things for other businesses that provide parts, support, and supplies for the factory.
(Score: 1, Informative) by Anonymous Coward on Wednesday January 25 2017, @12:21AM
Trump BRIBED Carrier into keeping *some* of the jobs
1) Trump showed up late to the game.
(All the decisions had already been made.)
2) The jobs that were going to Mexico are on their way there, as was always the plan.
3) The jobs that were NEVER slated to go to Mexico haven't gone to Mexico.
4) Carrier got tax breaks to do exactly what they were going to do anyway.
To make ZERO CHANGES to Carrier's plans cost the taxpayers of Indiana $700M.
All hail Trump!
-- OriginalOwner_ [soylentnews.org]
(Score: 0) by Anonymous Coward on Wednesday January 25 2017, @12:37AM
Ugh. Enough with the conspiracies.
At least offer a shred of evidence.
Carrier officially announced the plant was closing that spring.
If that was some kind of game of chicken they took a huge PR hit for it.
(Score: 2) by Sulla on Wednesday January 25 2017, @01:24AM
Carrier still ended off "worse" than they would have been had they moved manufacturing to Mexico. Because of all of the bad PR they decided to stay and opened themselves to the highest bidder. If I recall it was Indiana that gave them the best tax offer with additional bonus of not needing to move anything.
Then Trump claimed credit. Carrier made their bet that if he had won between PR and possible tarrif they would be better off just staying. Trump only gets credit for seeming serious enough to actually do it. The state gets credit for making them the offer to stay. Any other state could have done the same.
Ceterum censeo Sinae esse delendam
(Score: 0) by Anonymous Coward on Wednesday January 25 2017, @08:04AM
The state made them the offer because Pence was governor.
So for all practical purposes, Trump gave them the 7M
Its not obvious that any other state would have made them that level of offer for just 700 jobs.
(Score: 4, Funny) by EvilSS on Wednesday January 25 2017, @02:50AM
It the facility going to be built with H1B's like Elon Musk and how wonderful he was in Northern California?
Probably concrete and steel actually. I don't think H1B's would make a good construction material.
(Score: 0) by Anonymous Coward on Wednesday January 25 2017, @03:56AM
How the fuck is Trump responsible for this?
Foxconn wouldn't even be publicly considering this if Clinton had won. Same for Apple. Once they saw there was a chance that Trump might win, they started getting more serious. I'm sure such companies already have considered such options, Trump winning just makes them prepare more to do so.
A vote for Clinton was a vote for "same old same old". A vote for Trump was "let's spin the wheel/revolver".
So I'm not surprised that Trump won.
(Score: 0) by Anonymous Coward on Wednesday January 25 2017, @04:13PM
I suppose the real issue here is that the fact that foxconn is considering a plant in the expensive America means that hey either believe or have reason to believe that it will soon be as cheap or cheaper to operate a plant in the USA compared to China. Might be something to think about.
They are a company. They don't choose to make things more expensive for themselves.
(Score: 2) by linkdude64 on Thursday January 26 2017, @01:56AM
Someone didn't get their "Runner-up" trophy in the mail yet!
(Score: 2) by edIII on Thursday January 26 2017, @09:13PM
I notice you devolved into kindergarten like behavior and are obsessed with who won and who lost instead of the objective facts of where we are.
You stupid, stupid, stupid fuckers. Did you notice that I was as hard on Obama (Democrat) as I was on Hillary (Democrat) as I was on Bush (Republican) and Trump (Hitler reborn)?
There were no fucking good choices this election. At all. Buffoons like you that childishly delight in the alleged tears of this alleged Democrat/Liberal/Communist/What-the-fuck-ever completely miss the fucking point.
Enjoy being so far up the Republicans ass, that you can't see the dangers around you :) Enjoy being betrayed. That is what Trump is currently doing, betraying all of your stupid fucking asses that voted for him. I'll walk that back, because I'm willing to believe that the bulk of you voted out of fear, not stupidity. Your fear put him in office, because you couldn't stand Hillary and the old Democratic party. I forgive you and understand, I was close to voting for Trump too, but only as a vote for Armageddon and inevitable Civil War. You know, through the fires and ashes we would rise again.
I never got to vote for Obama, but I felt just as bad about his betrayal over 8 years as you will about Trump and his 15 minutes of of fame. I don't even think he will last the full 4 years. He doesn't have the mental or emotional stamina to be a President anyways. You'll be left with Pence. Pence. Let that sink in :)
Meanwhile, we get to watch Trump crash and burn as President, which the majority knew would happen. Enjoy your illegitimate "win" while completely missing the forest for the trees. Sad.
Technically, lunchtime is at any moment. It's just a wave function.
(Score: 2) by linkdude64 on Friday January 27 2017, @09:22PM
"I notice you devolved into kindergarten like behavior"
Ahahahaha
"You stupid, stupid, stupid fuckers."
Do tell, Euthyphro!!!
"Did you notice that I was as hard on Obama (Democrat) as I was on Hillary "
No, because you're not important, and the quoted sections of your statement are the only ones that are worth a read.
Signed,
America - #1 Country on Earth, forever and always, because we have lots of guns.
(Score: 2) by edIII on Friday January 27 2017, @09:49PM
Well, you're still a stupid fucker that can only throw around insults and taunts and are unable to form any real arguments against what I said.
Truth hurts :) Enjoy having only taunts to give people, and nothing of substance..........
Technically, lunchtime is at any moment. It's just a wave function.