China Starts Outsourcing From ... the US

hackingbear writes: Burdened with Alabama's highest unemployment rate, long abandoned by textile mills and furniture plants, Wilcox County, Alabama, desperately needs jobs. And the jobs are coming from China. Henan's Golden Dragon Precise Copper Tube Group opened a plant here last month, employing 300 locals. Chinese companies invested a record $14 billion in the United States last year, according to the Rhodium Group research firm. Collectively, they employ more than 70,000 Americans, up from virtually none a decade ago. Powerful forces — narrowing wage gaps (Chinese wages have been doubling every few years), tumbling U.S. energy prices, the rising Yuan — up 30% over the decade — are pulling Chinese companies across the Pacific. Perhaps very soon, Chinese workers will start protesting their jobs being outsourced to the cheap labor in the U.S."

Comments

2000 jobs and 2 billion dollars

[OzPeter]

Thats what is being touted for the Shandong Tranlin Paper Co. greenfield mill being built near Richmond VA, and to break ground in 2016

Chinese paper company to set up shop in Richmond suburbs

Sure I don't expect 2000 permanent full time jobs, but injecting $2 billion into a community ain't so shabby