American Economic Alert.org - Masthead Fighting For American Companies - Fighting for American Jobs United States Business and Industry Council
Current Trade Deficit:   AmericanEconomicAlert.org - Presented by The Robert A. Stranahan Lectures
GE's Immelt -- Phony Champion of US Manufacturing
Alan Tonelson
Monday, November 23, 2009
Photo of Alan Tonelson
“We must make a serious commitment to manufacturing and exports. This is a national imperative. We all know that the American consumer cannot lead our recovery. This economy must be driven by business investment and exports.  We should set a national goal to create high value added jobs and have manufacturing jobs be no less than 20 percent of total employment, about twice what it is today.”
–GE Chairman and CEO and Obama Economic Recovery Advisory Board member Jeffrey Immelt, June 26, 2009

“GE is essentially moving its avionics platform to China, angling in part to grab business for a planned aircraft China hopes will compete with jets from Boeing Co. and European Aeronautic Defence & Space Co.'s Airbus....GE and AVIC agreed to establish a 50-50 joint venture in China that GE said would be its main platform to develop and market avionics systems for global commercial-aircraft manufacturers.
–The Wall Street Journal Europe, November 16, 2009



Sources: “Text of Immelt’s Speech,” WSJ.com, June 26, 2009, http://online.wsj.com/article/SB124603518881261729.html; “GE puts faith in China aerospace industry --- U.S. company forms avionics venture with AVIC, setting up possible challenge to Boeing and Airbus,” by Norihiko Shirouzu, The Wall Street Journal Europe, November 16, 2009

Alan Tonelson is a Research Fellow at the U.S. Business & Industry Educational Foundation and the author of The Race to the Bottom: Why a Worldwide Worker Surplus and Uncontrolled Free Trade are Sinking American Living Standards (Westview Press).
Sign up below to have AEA news headlines, articles, and reports delivered directly to your mailbox. 100% free and private.
PDF Download View our plan to save American Manufacturing
PDF Download Multimedia educational shorts on key trade issues