Bonehead! To late for abortion!
Jeffery Immelt, CEO of GE, Job Exporter to China, Recipient of 1.2 billion in taxpayer stimulus, billions in tax breaks and subsidies and current Jobs Tsar (i.e. chairman of the President Barack Obama's Council on Jobs and Competitiveness):
"China is changing," said CBS host Charlie Rose. "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?"
"It is good for China," said Immelt. "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."
Are you really surprised that the CEO of General Electric believes that "communism works" in China?
He's making billions in profits every year, and a significant portion of these profits stem from China's system of government which provides a framework for cheap labor costs.
And besides, China is not really Communist, they are a communist/capitalist hybrid.
Interesting how the plight of the Chineese worker, and their basic human rights, engenders silent in the U.S.He's making billions in profits every year, and a significant portion of these profits stem from China's system of government which provides a framework for cheap labor costs.
Another word for "Crony Capitalism for the Elite/Corporations, Abject Communist Destitution for the 99%".And besides, China is not really Communist, they are a communist/capitalist hybrid.
Indeed, very entertaining that a Democrat and Obama supporter would offer such a ringing endorcement of such a system.
I guess thats why thousands of GE jobs were given to the Chinese. Typical Rich a--wipe.
The word was "works" coming from the CEO of a multi billion dollar corporation heavily invested in the area being discussed.
What do people not get?
Nothing outlandish about it, but let the manufactured outrage continue.
Communism was and is the greatest evil in human history, the single greatest mass murderer of human lives ever, and the single greatest theif of human rights, in our entire human history. It is a loathsome and offensive system and ideaology responsible for more destruction and death than any other, ever.
So when I hear a corporate CEO and Govt. Job Tsar express his appreciation for it, I find that concerning.
You don't. Ok.
I think the context of the comment was based on economics, and China's growth in this department over the past few decades. It had nothing to do with socialism, mass murder, or human rights suppression.
The same way you cannot discuss the economics of China's Communism without mention of how that Communism is applied to the people. We bemoan inequallity (economic) here, try China and Communism and see if it's better. Hint, it's not. At all.
/shrug, IMO discussing how the economics of Centrally Planned Communism "works" is akin to discussing how the Fuhrer-led Economics of Nazi'ism "works". It may be true in an extremely thin way, but missed the far bigger picture.
There is a big difference between companies making money in the US because of Cheap Chinese labor and US multi-nationals making money selling product in China. Before China opened it's economy to Capitalism GE and most US multinationals couldn't make money in China because there was no consumer demand for their products.
Last edited by Winstonbiggs; 12-13-2012 at 02:55 PM.