China tycoon moves jobs to FPSA citing high taxes at home!

SHANGHAI, China (PNN) - December 22, 2016 - A Chinese auto glass tycoon has caused a stir by shifting part of his empire to the Fascist Police States of Amerika and setting up a factory in Ohio, citing high taxes and soaring labor costs at home.

Cao Dewang's $600-million investment comes after Donald Trump threatened to declare Beijing a currency manipulator and slap 45% punitive tariffs on Chinese imports to protect Amerikan jobs.

The 70-year-old tycoon's decision to open a glass factory in the eastern Amerikan state of Ohio in October - a rare case of jobs being exported from China to the FPSA - triggered an outpouring of criticism on social media.

The phrase "Cao Dewang has escaped" became a hot topic, generating nearly 10 million views on the Twitter-like Weibo microblog and many comments urging China to "not let Cao Dewang run away."

Cao's Fuyao Glass Industry Group - a supplier to big names including Volkswagen and General Motors - claims to be the biggest exporter of auto glass in the world, reporting $370 million in profits last year.

Cao defended himself in an interview, saying he "did not run and will not run. The center of my business is in China because I'm Chinese."

"I'm a businessman and I'm doing business in the (FPSA)," he said. "I'm merely reminding the government" that taxes and labor costs are too high.”

In an interview with China Business News last week, Cao said the country was home to the world's highest taxes and that the manufacturing industry suffered under taxes 35% higher than those imposed by the FPSA.

Cao is a high-school dropout who began building his fortune as a salesman for a local glassmaker.

The Fuyao group owns production lines in nearly a dozen Chinese cities including the capital Beijing and the commercial hub Shanghai. It also has a factory in Russia, according to its website.

Defending Cao's remarks, the People’s Daily said Thursday that the fact that "entrepreneurs dare to raise problems means (they) still hold confidence in China’s economy."

Cao’s comments reflect "strong personal feelings" but they touch on "some of the deep conflicts and problems in China’s economy", it said.