It never happens that way. The technology is transferred to the Chinese who then develop their own companies and market, later to compete in the US market.
July 27, 2011
Default Scare Tactics
FBNs Stuart Varney sounds off on the presidents response to debt ceiling.
Theyre scaring you. The White House threatens financial Armageddon and at the exact same time, President Obamas favorite executive shifts high tech jobs to China.
It was Dan Pfeiffer, a top White House aide, who says we may go into a depression if we dont get a debt deal. And of course, it is the Republicans fault. If we dont let the President borrow a few trillion more, well al be in the poor house next week. A scare tactic, plain and simple.
And it was Jeff Immelt, GEs top guy, who is shifting the companys x-ray division from Wisconsin to Beijing. Mr. Immelt chairs the Presidents council on job creation and competitiveness.
Not “Unexpected”. This is the same method that the Nazi Party under Hitler used to bring Germany’s big businesses to heel. At the end they were all beholden to the government for their very lives and fortunes. History repeating.
Obama Czars And Fetters U.S. Workers
I have yet to read one article that quotes Immelt defending this.
Why shouldn’t our CEOs be moving jobs to China? Obama, is making it impossible to open factories and do business in the USA. And the Republicans, concentrating on the debt ceiling if they are conservatives or their favorite spending if they are RINOS, are doing little about it.