Posted on 01/23/2017 12:52:49 AM PST by 2ndDivisionVet
DAVOS, SWITZERLAND – U.S. President Donald Trump’s promise to create jobs by spending $1 trillion over 10 years upgrading infrastructure from airports to schools is an opportunity for Mitsubishi Heavy Industries Ltd., the conglomerate’s chairman said.
Mitsubishi, maker of an array of products from forklifts to nuclear power plants and aircraft, also won’t hesitate to invest more in the U.S., Hideaki Omiya, 70, said in an interview on the sidelines of the World Economic Forum in Davos, Switzerland, on Friday.
“We provide infrastructure all over the world, including the U.S.,” he said. “It might be a good opportunity for us.”
Omiya is among Asian executives including China Investment Corp. Chairman Ding Xuedong who are betting on Trump’s plan to bolster the world’s biggest economy with tax cuts, overhaul of regulations and higher spending on public works and defense. While expressing concerns over the president-elect’s threat to kill the Trans-Pacific Partnership trade accord and pull U.S. troops out of Asia, Omiya said Trump is a “very smart person” who will respond positively when presented with facts....
(Excerpt) Read more at japantimes.co.jp ...
Globalization is flat-lining, but the alternative isn’t necessarily Balkanisation.
Removing the ambiguity of Global Prosperity will help nations determine their value and opportunities in the World market.
The World has a lot to look forward to.
Good assessment.
If a Japanese company has experience in infrastructure and wants to bid for a piece of the action, fine.
They’ll be using American workers.
Indeed. Accountability works.
I busted too much knuckle once obliged to use “Jap tools” 40 years ago — either too soft or poor tensile strength. But a lot changed since then, and no doubt competition helped to improve Japan’s tooling and products, and also U.S. products. Remember the US rust buckets? Once the Japanese imports became a threat, US autos finally realized the potential they always had.
40 years ago the “Jap tools” that came in motorcycle tool kits were complete crap, though the motorcycles themselves were pretty darn good. What did a young kid working as a motorcycle mechanic in high school buy? Craftsman tools, of course, and the senior guys were buying Snap-On.
That was, as you note, about the time Japanese cars really started to come to the fore. The original Honda Accord was just a revelation when it was introduced in the late 70s, especially when compared to things like the Vega and Pinto. I had an ‘81 Accord sedan, bought new, which was the last model year for the 1st generation Accord. I owned American cars after that, and can honestly say I didn’t own a car with a better paint job until I bought a German car 20 years later.
No more infrastructure spending boondoggles unless an equal or greater amount in REAL spending is squashed.
Agreed. What does a trillion dollars in “infrastructure” spending do for Japan? Why make that their demand? I guess those great commies just want us to have better airports and schools. Gee, let’s print that trillion, sounds great.
So many in Japan have, and have had, their heads in the sand, for more than 20 years. Japan has been “fighting” deflation and low, or negative GDP growth for almost 20 years, with multiple large “infrastructure” “investments”. Hasn’t worked. It has become one of the new financial opiums in Japan. Local districts are rewarded with the projects, and when nothing has been working, again, more “infrastructure” is demanded and returned.
Agree! And I’d hope more Freepers would strike this down! Government isn’t there to create jobs and keep spending us into oblivion!
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