In an interview with Reuters last week, General Electric CEO Jeffrey Immelt said that he believes China and the United States need to open up their borders for trade and abandon protectionist thinking. The interview came after Immelt attended a White House meeting with President Obama and Chinese President Hu Jintao.
Just this week, General Electric signed $2 billion worth of deals supply electric turbines, railroad locomotives and aircraft components to Chinese companies.
From Reuters:
It also agreed to work with Chinese companies on gas and coal-powered turbines in China, on high-speed rail in the United States and formed a joint-venture company with China’s AVIC to develop electronics for a new single-aisle commercial jetliner being developed by a Chinese state-owned company.
“We want to make sure we see the evolution of free trade and transparency,” Immelt said. “From China, how can they invest more in the United States? How can they grow their companies here? There’s a little bit of angst on both sides, but on balance there is comfort that over time a lot of these things will get solved.”
It’s certainly an interesting take in the age of ‘Buy American’ campaigns. For the full story, head over to Reuters.
