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US investors 'choosing to stay' (3)

By Wei Tian (China Daily)

08:27, December 03, 2012

"A lot of countries would like to create more jobs, but it's not the government's choice whether companies would like to move home or go anywhere else," Ng said.

"US companies will only go home when the cost is lower ... but if something that cost $100 to make in the US can be made for $60 in China, you are left with no choice."

In addition, he said, the US government, which currently faces a "fiscal cliff", is not likely to come up with too many incentives to lure investors.

China still lags behind the premier markets and high-end services, such as IT and financial analysis, where the US and Europe has a larger talent base, Ng said.

Although Ng admitted that there might be some industrial transfers to Southeast Asian countries, where labor costs are even lower, he said there is no need to worry about the trend because it is in line with China moving up the global value chain.

China should welcome development of its neighbors, because it also helps China lower its production costs.

"Lower costs are not the only reason for companies to move their factory to another country, other factors such as political stability, infrastructure and transportation will also be considered," he said.

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