China's Glass Tycoon Questions Trump's Efforts to Bring Capital Flows Back to US Manufacturing(Yicai Global) Dec.11 -- Cao Dewang, chairman of Fuyao Glass Industry Group Co., the world's second-biggest glass supplier, has cast doubt on US President Trump's efforts to revive manufacturing in the country by bringing back investment flows, saying that capital alone is not enough to solve the sector's problems.
US government measures such as the recently announced cut in corporate taxes will have little impact on the enterprises, China's 'Glass King' said during the CCTV Financial Forum 2017 in Beijing yesterday.
"If a great man such as Alibaba founder Jack Ma was invited to manage Fuyao glass, I believe he would not be able to do it, adding more money is useless in this situation," mulled Cao "A brand cannot be bought with money. A brand is built on culture, which takes time."
Fuyao Glass Industry Group Co. [SHA:600660;HK:3606] opened a new factory in Ohio last year. The firm, established in 1987, in Fuzhou China's eastern Fujian province, is currently one of the world's largest automotive glass manufacturers.
