http://www.ft.com/cms/s/0/ed654fac-8518-11df-adfa-00144feabdc0.html Immelt hits out at China and Obama By Guy Dinmore in Rome and Geoff Dyer in Beijing Published: July 1 2010 15:19 | Last updated: July 1 2010 20:33 Jeffrey Immelt, General Electricâs chief executive, has launched a rare broadside against the Chinese government, which he accused of being increasingly hostile to foreign multinationals. He warned that the worldâs largest manufacturing company was exploring better prospects elsewhere in resource-rich countries, which did not want to be âcolonisedâ by Chinese investors. âI really worry about China,â Mr Immelt told an audience of top Italian executives in Rome, accusing the Chinese government of becoming increasingly protectionist. âI am not sure that in the end they want any of us to win, or any of us to be successful.â Mr Immelt also had harsh words for Barack Obama, US president, lamenting what he called a âterribleâ national mood and expressing concern that over-regulation in response to the global financial crisis would damp a âtepidâ US economic recovery. Business did not like the US president, and the president did not like business, he said, making a point of praising Angela Merkel, Germanyâs chancellor, for her defence of German industry. âPeople are in a really bad mood [in the US],â Mr Immelt said. âWe [the US] are a pathetic exporter...we have to become an industrial powerhouse again but you donât do this when government and entrepreneurs are not in synch.â Mentioning a meeting with Jean-Claude Trichet, he said the president of the European Central Bank âworries about inflation every dayâ, in contrast to Ben Bernanke, chairman of the Federal Reserve, who will keep interest rates âat zeroâ as long as necessary.