GE snubs U.S., sells technology to China
As reported by the Washington Post, General Electric (GE) has entered into a contract with China's state-owned aviation industry to provide advanced technology for their aircraft. And while GE insists it's taking precautions to make sure the technology isn't copied or used for unintended purposes, many experts are crying foul.
LOS ANGELES, CA (Catholic Online) - General Electric has agreed to send several technologically advanced components and instruments to China as part of a plan to position the company strongly in the growing Chinese market. China's booming economy and strong forecast means the Chinese aviation industry is set to grow rapidly over the next several years and GE wants to earn a share of that money by providing the technology that will help fly those planes. However, when dealing with China, things aren't always what they seem.
Despite GE's insistence this is purely a business deal, which on-face, it is, GE is taking a substantial risk. China is notorious for using foreign corporations to gain access to key technologies, and then copying them and developing their own internal source for them, thereby cutting out the original developer and keeping the profits. Indeed, China is known for "bootleg" --well, everything, and advanced technology is no exception.
While GE will certainly earn substantial short-term profits, there's no guarantee that China will simply continue to pay GE for its products and refrain from copying them. Furthermore, there's little guarantee that China won't also use GE's technology to develop its own military capabilities.
GE's deal costs US jobs
Under the current agreement, China will use GE technology to construct its own airliners. This decision will cost American jobs as China will be able to build their own technologically advanced airliners instead of purchasing them whole, or their component parts from US manufacturers such as Boeing.
http://www.catholic.org/business/story.php?id=42530
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GE seems to trust China. They trust them so much that they want to be partners with China and compete against Boeing.
That's what I see. What do you think?
I guess the administration doesn't have a problem with this... This administration likes GE so much that they get away from paying certain taxes.
President Obama reached out to ?big business? to help him address this issue of jobs. Since his Party normally hates anything to do with ?big business? (other than when it comes to soliciting campaign donations), he must have swallowed deeply before asking General Electric?s Chairman and CEO, Jeffrey Immelt, to become the Chairperson of the President?s Council on Jobs and Competitiveness
Again, GE's deal will cost US jobs
As reported by the Washington Post, General Electric (GE) has entered into a contract with China's state-owned aviation industry to provide advanced technology for their aircraft. And while GE insists it's taking precautions to make sure the technology isn't copied or used for unintended purposes, many experts are crying foul.
LOS ANGELES, CA (Catholic Online) - General Electric has agreed to send several technologically advanced components and instruments to China as part of a plan to position the company strongly in the growing Chinese market. China's booming economy and strong forecast means the Chinese aviation industry is set to grow rapidly over the next several years and GE wants to earn a share of that money by providing the technology that will help fly those planes. However, when dealing with China, things aren't always what they seem.
Despite GE's insistence this is purely a business deal, which on-face, it is, GE is taking a substantial risk. China is notorious for using foreign corporations to gain access to key technologies, and then copying them and developing their own internal source for them, thereby cutting out the original developer and keeping the profits. Indeed, China is known for "bootleg" --well, everything, and advanced technology is no exception.
While GE will certainly earn substantial short-term profits, there's no guarantee that China will simply continue to pay GE for its products and refrain from copying them. Furthermore, there's little guarantee that China won't also use GE's technology to develop its own military capabilities.
GE's deal costs US jobs
Under the current agreement, China will use GE technology to construct its own airliners. This decision will cost American jobs as China will be able to build their own technologically advanced airliners instead of purchasing them whole, or their component parts from US manufacturers such as Boeing.
http://www.catholic.org/business/story.php?id=42530
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
GE seems to trust China. They trust them so much that they want to be partners with China and compete against Boeing.
That's what I see. What do you think?
I guess the administration doesn't have a problem with this... This administration likes GE so much that they get away from paying certain taxes.
President Obama reached out to ?big business? to help him address this issue of jobs. Since his Party normally hates anything to do with ?big business? (other than when it comes to soliciting campaign donations), he must have swallowed deeply before asking General Electric?s Chairman and CEO, Jeffrey Immelt, to become the Chairperson of the President?s Council on Jobs and Competitiveness
Again, GE's deal will cost US jobs
