Did You Know...

   

Obama's jobs council chairman on China: State run communism might not be your cup of tea, but their government works

Share
By Doug Powers  •  December 12, 2012 08:23 AM

**Written by Doug Powers

Jeffrey Immelt, CEO of General Electric and head of the President’s Council on Jobs & Competitiveness, had a “made the trains run on time” moment on Monday while addressing the efficiency of China’s form of government — specifically economic policy.

Transcript via RCP:

CHARLIE ROSE, HOST: 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, CEO OF GE: It is good for China. To a certain extent, Charlie, 11 percent is unsustainable. You end up getting too much stimulus or a mis-allocation 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 may not be your cup of tea, but their government works.

Sometimes the perception that a certain political system “works” depends greatly on if you’re the one driving the tank, or the one standing in front of it. The ChiCom government might be “working” for select people in the country at the top of that system or even for General Electric (not to mention those who would like to use China’s vastly superior infrastructure as a model for the US), but there’s little doubt Immelt would have faced tough follow-up questions if his interviewer had, say, ever spent any time as a political prisoner in Beijing No. 2.

In 2009, Chinese economist Wu Jinglian indicated who he thinks the Chinese government works best for:

He complains that business tycoons and corrupt officials have hijacked the economy and manipulated it for their own ends, a system he calls crony capitalism.

That sounds kind of familiar. Maybe that’s why Immelt is a little more comfortable with it than others are:

**Written by Doug Powers

Twitter @ThePowersThatBe

blog comments powered by Disqus
Posted in: Politics

‘Careful what you ask for,’ socialist-style: NH delegate count gives Bernie Sanders his dream of ‘fairness’

February 11, 2016 07:47 AM by Doug Powers

hillarybernie

There seems to be some sort of lesson here

While the focus was on New Hampshire, SCOTUS knocked the teeth out of Obama’s Clean Power Plan

February 10, 2016 07:58 AM by Doug Powers

obamaskyrocket

Necessary skyrocketing of energy prices put on hold

NH watch: Optimistic Sanders supporters sing about having ‘somebody to lean on’ (a primary open thread); Updated

February 9, 2016 09:29 AM by Doug Powers

sanderssing

Lean on Me Them

Last-ditch Clinton strategy to win NH: Discredit Bernie Sanders by likening him to… the Clintons

February 8, 2016 08:11 PM by Doug Powers

billclinton

New winning strategy: Projection

Great moments in women’s rights activism: Hillary supporter Madeleine Albright informs ladies how to avoid hell

February 7, 2016 10:26 AM by Doug Powers

albright3

Hell hath no fury like a Clinton supporter scorned


Categories: Feature Story, Politics

Follow me on Twitter Follow me on Facebook