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Follow us on FacebookFoxconn sells off part of Trump’s eighth wonder of the world
@ 2023/08/30Deal did not pan out
Foxconn has flogged off two US buildings it said would be used for innovation centres and an LCD factory.
The buildings were bought in Wisconsin just before an election and as part of building "innovation centers" around the state in a transparent attempt to build support for the giant tax credits it was given to build an LCD factory. Cynics said it was also to butter up Donald Trump and support his “build everything in America” campaign.
One of the buildings included the Watermark building in Green Bay. However, all those plans were mysteriously axed even if they were backed by then President Donald Trump who called them "the eighth wonder of the world."
For Foxconn, the investment promise was an opportunity for its charismatic founder and then-chairman, Terry Gou, to build goodwill at a moment when Trump's trade policies threatened the company's cash cow: building Apple's iPhones in China for export to America.
Over the years since the initial enthusiasm Foxconn has progressively scaled back the project and now it seems it has being shuttered completely.
Foxconn has flogged off two US buildings it said would be used for innovation centres and an LCD factory.
The buildings were bought in Wisconsin just before an election and as part of building "innovation centers" around the state in a transparent attempt to build support for the giant tax credits it was given to build an LCD factory. Cynics said it was also to butter up Donald Trump and support his “build everything in America” campaign.
One of the buildings included the Watermark building in Green Bay. However, all those plans were mysteriously axed even if they were backed by then President Donald Trump who called them "the eighth wonder of the world."
For Foxconn, the investment promise was an opportunity for its charismatic founder and then-chairman, Terry Gou, to build goodwill at a moment when Trump's trade policies threatened the company's cash cow: building Apple's iPhones in China for export to America.
Over the years since the initial enthusiasm Foxconn has progressively scaled back the project and now it seems it has being shuttered completely.
