American Made…Chinese Owned

Chinese companies are increasing US investments and adding jobs, particularly throughout the conservative South. Wages still remain high by Chinese standards, but land is cheap and energy is reliable. In a cover article for Fortune Magazine, Sheridan Prasso reports that more than 30 states, ports and municipalities have hired representatives and offered tax incentives to lure Chinese companies and return jobs to the US; about $5 billion in investments were announced in 2009. Some investments are less innovative than others: Plants stitch logos, print labels or make rubber stamps, while others hire engineers for making drill bits in South Carolina, wind turbines in Nevada or specialized pipes in Texas. Cross-border investments like these may help reduce rising tensions from the massive US trade deficit with China. – YaleGlobal