GE and the economy regarding china.

Discussion in 'Economics' started by KINGOFSHORTS, Jul 1, 2010.

  1. No shit, China is the enemy, the look at the United States as the enemy and they are working towards the destruction of the US via Economic warfare.

    We are just too stupid to realize this, Our biggest mistake was sending our industrial capacity to china, and sending are intellectual property to china and putting ourselves in debt to a Communist country, (Yes China is communist)

    IF someone went back in time to 1950 and told the average American what how we are with China they would laugh their ass off and call the men in white with nets to send us to an asylum.

    SAN FRANCISCO (MarketWatch) -- General Electric Co. said Thursday that reported comments by Chief Executive Jeffrey Immelt were taken out of context after the Financial Times quoted him knocking President Barack Obama and criticizing China during a private discussion.

    "The comments attributed to GE CEO Jeff Immelt by the FT were taken out of context and, in some instances, inaccurately reported," Gary Sheffer, a spokesman at GE (GE, Trade ), said in a statement that was emailed to MarketWatch.

    "Mr. Immelt's comments at a private dinner focused on the relationship between business and government in general and did not single out President Obama," Sheffer said. "Mr. Immelt also discussed the attractiveness and importance of China as a market for GE during a discussion on the complexities of doing business globally."

    According to the Financial Times report, during a speech to Italian executives in Rome, Immelt had harsh words for Obama. He reportedly lamented what he called a "terrible" national mood and expressed concern that over-regulation in response to the global financial crisis would dampen a "tepid" U.S. economic recovery.

    Business executives dislike the president, and the president doesn't like business, Immelt added, according to the Financial Times.

    The report quoted Immelt as calling the U.S. a "pathetic exporter" and said the nation has to become an "industrial powerhouse" again.

    "But you don't do this when government and entrepreneurs are not in sync," the Financial Times quoted him as saying.

    The CEO also reportedly accused China's government of being increasingly hostile to foreign multinational corporations, according to the newspaper.

    Immelt acknowledged the importance of China, which accounted for $5.3 billion of the company's revenue last year, but he declared that GE was encountering its toughest business conditions there in 25 years.

    He said GE is exploring better prospects elsewhere in resource-rich countries which did not want to be "colonized" by Chinese investors.

    "I really worry about China," Immelt was quoted as saying. "I am not sure that in the end they want any of us to win, or any of us to be successful."

    GE shares fell 2.1% to close at $14.12 on Thursday. The stock is down 6.7% year to date and has lost 48% the past two years. By comparison, the S&P 500 index is down 7.8% in 2010 and is 20% lower in the past two years.
  2. sumfuka


    It took him 25 years to figure it out. Damn :eek:

    But its too late now, if GE leaves China, the other market participants will gobble up their shares of the giant pie.
  3. ~~~


    China is Not the enemy.." the Greatest Enemy is Oneself " (just look at the Man in the Mirror". The destruction of USA is by her own people ... please don't blame others. It's not up to China or other nations to decide whether you are going to Prosper or Perish.

    So now China, Russia, India, Arabs, Europe (almost the whole world) all enemies of USA.. why only USA has so many enemies in "his-head!" ??

    China, Russia, Europe and other nations are strong and intelligent ... They have the industrial capacity/intellectual property even before USA. (please read your history book)

    If Immelt finds it's too tough to do business in China, then he and GE are welcome to get the hell out of China and lose/ give the 5.3 billion revenue to an European company.
  4. ~~~


    It is not too late .. GE and Immelt are welcome to leave China and give the 5.3 billion to others who see China as a giant pie not as an enemy.:)
  5. Are you Chinese?Is English your first language? I only ask because your sentence structure sounds strange and irregular.
  6. ~~~


    Nope..English is my 6th language.:D ( i am chinese/overseas chinese )
    sometimes when i write or other 5-language all mixed up and i am a terrible writer ..only good in maths, trading, business and cooking:D
  7. quoted for truth
  8. ~~~


    Americans voted a President who dislike business :D but it's not too late! you guys can vote again very soon.:)
  9. Anyone know who is being groomed for the Republican side? I hope it is not Palin.
  10. ~~~


    + 1 Palin is a NO :D i think she can be a good school teacher but definitely Not as a president or vice president.
    #10     Jul 2, 2010