According to an article in the Financial Times, GE CEO Jeff Immelt has finally conceded that China is a problem, saying, “People are in a really bad mood [in the US]. We [the US] are a pathetic exporter…we have to become an industrial powerhouse again but you don’t do this when government and entrepreneurs are not in synch.”

It is high time that industry CEOs recognize the dangers of dealing with China, a country that is not playing by the same rules of global trade as the United States. And though Immelt recognizes the importance in the global market of countries such as India and China, he said, “I really worry about China. I am not sure that in the end they want any of us to win, or any of us to be successful.”

And even though it may be just a statement, Immelt’s furrowed brown with regard to China is a sign that everyone is starting to feel the effects, and express concern for, China’s eerily growing presence.

Read more here.

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This entry was posted on Friday, July 2nd, 2010 at 5:00 pm and is filed under China, China and Currency Manipulation, Global Trade, Manufacturing, Jobs and the U.S. Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.