When you don’t count Walmart, the largest employers in the world, are in China, not the United States.
And the biggest firms in China are industrial and manufacturing companies, not a low-wage retailer
China National Petroleum (1,636,532), China State Grid (913,546), Foxconn (803,126) and Sninopec (667,799) together employ 4,021,003 workers.
Foxconn is well known in the U.S. for producing Apple phones in Longhua Town, Shenzhen, in the south of China.
Hundreds of thousands of workers (counts vary between 230,000 and 450,000) are employed in the walled campus of Foxconn City, one of many factory locations.
Like America’s Gilded Age company towns, Foxconn Campus includes 15 factories, worker dormitories, four swimming pools, a fire brigade, its own television network, and a city center with company grocery store, bank, restaurants, bookstore, and hospital.
Compare firms like Foxconn to the closest American industrial company – General Electric (313,000) – which has its workforce here and in China, according to a GE document:
GE China houses over 20,000 employees, 30 manufacturing bases, and more than 30 joint ventures, with a presence across 40 cities in the country. It also houses R&D teams in 8 cities in China. In 2017, GE’s orders in China amounted to US $8.1 billion.
One unfair tax advantage to America is that a firm’s China operations can help to avoid paying anything in support of our public needs. Our largest industrial employer may be a good example. The NY Times reported that between 2008 and 2015:
General Electric, International Paper, Priceline.com and PG&E, incurred a total federal income tax bill of less than zero over the entire eight-year period — meaning they received rebates.
But China’s dominance is not just in manufacturing and industrial employment, it far outpaces us in finance.
China has the largest major bank employment in the world: Agricultural Bank of China (491,578), Industrial Bank of China (433,048), China Construction Bank (370,415), Bank of China (311,133), and China State Construction (270,467).
Our largest bank, JPMorgan Chase, has 252,539 workers, many overseas.
These statistics lead to the conclusion that a socialist economic system, like China, does create jobs, even while guaranteeing healthcare and other services – benefits usually only for purchase in America. While China concentrates on increasing factories and employment in its own country, U.S. firms often do the opposite.
Meanwhile, China’s average wage is $12,000 in American dollars, compared to $6,900 in 2011, and $31,000 here. The government also requires employers to provide ten paid holidays, five to 15 paid vacation days, as well as up to 98 days of paid maternity leave, plus paternity leave that varies between 7 and 20 days. Workers must receive 30 days notice of layoffs, and sign an employer/employee contract.
China’s elected and appointed officials have the major voice in determining economic policy on a company-by-company basis. For example, products of China are free of VAT and other taxes when exported to the rest of the world. Imports are always taxed with the VAT, as well as tariffs that can often even double prices.
In the United States, the opposite is true. In recent years both political parties have allowed corporate interests to dictate public policy to government officials. And since corporations own all major media outlets, this corporate capitalism is promoted at all turns.
Most European nations have compromised on near-absolute control of government by corporations (U.S.) and absolute control of corporations by government (China). In varying degrees these countries attempt to blend the best of two economic/political systems.
Americans often cannot afford to pay for nursing homes, drugs, or childcare.
Chinese workers currently have lower pay, stricter working conditions, and face a government that controls most aspects of their lives.
Compromise, anyone, for the public good?
|China National Petroleum||Oil and gas||$326,008||1,636,532|
|Sinopec||Oil and gas||$326,953||667,793|
|Agricultural Bank of China||Financials||$122,366||491,578|
|Gazprom||Oil and gas||$111,983||469,600|
|Industrial Bank of China||Financials||$153,021||453,048|
|China Construction Bank||Financials||$138,594||370,415|
|Ping An Insurance||Financials||$144,197||342,550|
|Bank of China||Financials||$115,423||311,133|
|Walgreens Boots Alliance||Pharmaceuticals||$118,214||290,000|
|China State Construction||Construction||$156,071||270,467|
|Japan Post Holdings||Conglomerate||$116,616||245,863|
|China Life Insurance||Financials||$120,224||170,517|
|Total||Oil and gas||$149,099||98,277|
|Royal Dutch Shell||Oil and gas||$311,870||84,000|
|BP||Oil and gas||$244,582||74,000|
|Exxon Mobil||Oil and gas||$244,363||71,200|
|Chevron||Oil and gas||$134,533||51,900|