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Chrystia Freeland | Analysis & Opinion | Reuters.com - 0 views

blogs.reuters.com/...jeff-immelt

analysis thomson reuters Chrystia Freeland China Jeff JefferyRImmelt Reindustrialization

shared by Yadkin River on 21 Dec 11 - No Cached
  • “Our only destiny can be as a high-tech exporter, that creates jobs, high-paying jobs … Export-led growth is the key to national success.”
  • it is suggested that this “business model that works for them” is Communist authoritarianism. “That has been very effective,” he said. “They’re in their 12th five-year plan and they’ve done quite well.”
  • ” The China challenge, in Immelt’s view, is about much more than a manipulated exchange rate and “cheap labor.” “It is the adaptability, it is the speed with which they move, it is the unanimity of purpose, it is the productivity of thought,
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  • In the U.S. public discourse, the big strain in the American-Chinese economic relationship is the yuan, and what many Americans view as the government-manipulated undervaluation of the Chinese currency.
  • “It is going to be the biggest economy in the world,” Immelt said of China. “The only question is when.”
  • the American consumer was the definitive driver of the global economy.” But Immelt said the future will be different. For the next 25 years, he said, the American consumer “is not going to be the engine of global growth. It is going to be the billion people joining the middle class in Asia, it is going to be what the resource-rich countries do with their new-found wealth of high oil prices. That’s the game.” A lot of that game will be played in China. At a moment when it is compulsory on the American right to pay homage to the exceptionalism of the United States, Immelt, a life-long Republican, is matter-of-fact about China’s inevitable rise.
  • Yadkin River on 21 Dec 11
     
    Jeffery Immelt on American going "ALL-IN" interview with Chrystia Freeland
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