General Electric CEO and chairman of President Obama’s jobs council Jeffrey Immelt told Charlie Rose that China’s state run communism works pretty well. I guess he would think so, seeing that GE has been expanding in China.
CHARLIE ROSE: China is changing. It may be being stabilized as we speak. What does that mean for China and what does it mean for the United States? Should it change expectations?
JEFF IMMELT: It is good for China. To a certain extent, Charlie, 11 percent is unsustainable. You end up getting too much stimulus or a misallocation of resources. They are much better off working on a more consumer-based economy, less dependent on exports. The one thing that actually works, state run communism a bit– may not be your cup of tea, but their government works.
He expanded on that thought a bit in the video that can be found at the link. He thinks central planning is a good thing, as long as you know which plan to look at.
@lonelycon He obviously hasn’t been there.
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Immelt is for Communism because he’s part of the elite class. If Imelt needs funds for GE they will be extracted from the taxpayer and called stimulus. This is total garbage. We the people the person will suffer and already have under the tyranny from Obama. It’s time to raise our voices again and stop this madness.
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Immelt would look good sporting one of those little white clean suits, assembling iPhones and living at Foxconn for about a year. Then he can give Charlie an updated report on how well Communism works.
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Too true, Michigan. People who think collectivism works always change their tune when they are forced into the Collective.
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Well, of course their government works! When dissent is not tolerated, and when those whose actions displease the government are rounded up, “re-educated,” or simply shot, then, yeah, that government works, works just fine.
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Sounds like he was reading that editorial that was in the NY Times back a few months, which said the same thing. Sounds like a pattern to me. The tax ‘discussion’ ought to be about why GE pays nothing, while any startup pays full rate.
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China is engaged in a silent Cold War with the U.S. China was allowed into the WTO which set the global rules for trade/investment, and China manipulates its currency. Economic policy is State-Capitalism rewarding the large State-enterprise stimulus incentives over small private business. The Chinese government requires a U.S. company to hand over its technology as the price to do business in China. Therefore, Chinese Government Research and Development profits (steals) our technology whether it is GE Immelt’s technology of airplanes, locomotives, health care, military secrets, etc.
Hence, the collaboration between GE’s Immelt and BHO is a profitable relationship using our stimulus tax dollars: “I believe we are going through more than a cycle. The global economy, and capitalism, will be “reset” in several important ways. The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner. I think this environment presents an opportunity of a lifetime. We get a chance to reset the core of GE and focus on what we do best.”
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Of course it works, thanks to the good old USof A. We sent them all our manufacturing jobs plus we buy all their goods.. Any despotic government, including North Korea, would work under those circumstances.
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Quisling probably sold every DoD system spec to the PLA. When Beijing sinks an American aircraft carrier we will know who to bayonet.
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