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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: 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.