(Global Times) Though many American expats in China believe that Trump's tax cut bill will improve America's business and working environment, they still believe that China has more opportunities. Photo: IC
President Donald Trump's new tax bill went into effect on January 1. Under the new tax bill, the corporate tax decreased from 35 percent to 21 percent, and the individual income tax threshold was raised to $12,000.
As soon as the news was released, many Americans in China were thrilled about the prospect that America's business and investment environment will be improving soon, and Alex Edmunds is one of them.
Edmunds moved to China in 2009, and he owns a real estate development and broker company Mandeville Capital with offices in Los Angeles, Seattle, Dallas, Beijing, and Shanghai.
"I believe Trump's new tax cut policy will improve the US business and investment environment and attract some overseas US workers and businesses to come back to the US," Edmunds said.
Trump's new tax cut bill stirs up a heated discussion from Chinese media on whether it will trigger the US' overseas manufacturing companies, intellectual properties and high-tech talents to reflux back to the US, which is a huge loss to Chinese economic development, according to a Global Times report on December 2017.
However, in Edmunds' opinion, the new tax bill will have some effect in attracting Americans like him to go back home to develop business, but the effect will be limited.
"The most important thing to a company is the business opportunities in the market, the tax treatment is a secondary consideration," Edmunds said. "And China still holds great business opportunities."