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

What a pal! Clinton crony Terry McAuliffe attracts FBI’s attention so Hillary doesn’t feel unfairly singled out

May 25, 2016 07:29 AM by Doug Powers

hillarymcauliffe

Cronies under investigation together stay together

Welcome to the bureaucratic Magic Kingdom: Looks like some ‘wait times’ are more acceptable than others

May 24, 2016 01:21 PM by Doug Powers

veterans

TSA security chief ousted, VA chief talks Disney

Of course: IRS commish ‘regrettably’ unable to attend misconduct hearing

May 24, 2016 10:13 AM by Doug Powers

koskinen

Fast Lerner

His contrails will go on: DiCaprio takes private jet from France to NYC to accept environmental award (Open thread)

May 22, 2016 10:06 AM by Doug Powers

kerrydicaprio

Hypocrite parade: Powered by dreams and jet fuel

Your tax dollars at war (against you): Behold Planned Parenthood’s election year ‘army’

May 21, 2016 05:45 AM by Doug Powers

patton

This mission should be aborted


Categories: Abortion, Feature Story, Barack Obama, Democrats, 2016 Campaign

Follow me on Twitter Follow me on Facebook