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Thread: G.E. to Share Jet Technology With China in New Joint Venture

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    G.E. to Share Jet Technology With China in New Joint Venture

    As China strives for leadership in the world’s most advanced industries, it sees commercial jetliners — planes that may someday challenge the best from Boeing and Airbus — as a top prize.

    And no Western company has been more aggressive in helping China pursue that dream than one of the aviation industry’s biggest suppliers of jet engines and airplane technology, General Electric.

    On Friday, during the visit of the Chinese president, Hu Jintao, to the United States, G.E. plans to sign a joint-venture agreement in commercial aviation that shows the tricky risk-and-reward calculations American corporations must increasingly make in their pursuit of lucrative markets in China.

    G.E., in the partnership with a state-owned Chinese company, will be sharing its most sophisticated airplane electronics, including some of the same technology used in Boeing’s new state-of-the-art 787 Dreamliner.

    For G.E., the pact is a chance to build upon an already well-established business in China, where the company has booming sales of jet engines, mainly to Chinese airlines that are now buying Boeing and Airbus planes. But doing business in China often requires Western multinationals like G.E. to share technology and trade secrets that might eventually enable Chinese companies to beat them at their own game — by making the same products cheaper, if not better.

    http://www.nytimes.com/2011/01/18/bu...2&ref=business
    So much for "comparative advantage." And this is just arrogance:

    For the most part, Western aviation executives say the Chinese are simply too far behind in both civilian and military airplane technology to cause any real fears anytime soon — although it does put pressure on Boeing and Airbus to continue to innovate and stay technologically ahead of China.
    Last edited by Ahlevah; 01-19-11 at 12:36 PM.
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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    For the most part, Western aviation executives say the Chinese are simply too far behind in both civilian and military airplane technology to cause any real fears anytime soon — although it does put pressure on Boeing and Airbus to continue to innovate and stay technologically ahead of China.
    Unbelievable.

    They were far behind when they got the rocket technology during the Clinton years, and all of a sudden their rockets started performing exceptionally well.

    Yeah, considering the past decade... why not give away competitive advantage in our highest tech industries too? The Chinese had been clever, trying to buy companies in a clandestine manner that had to do with high tech that were going out of business, and then would win all their expertise and plans... now let's practically give it away upfront.

    Face palm.

    I would like to hear Jack Welch's take on this. I respect the guy enormously.

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    Last edited by zimmer; 01-19-11 at 12:49 PM.
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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    This is how capital works. The Chinese can pay and our companies sell. They are concerned with profits, not national security. Is it GE's job to protect this country?

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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    Quote Originally Posted by tlmorg02 View Post
    This is how capital works. The Chinese can pay and our companies sell. They are concerned with profits, not national security. Is it GE's job to protect this country?
    No... but they should be concerned about the longterm competitive nature of their company, and look out for longterm shareholder value.

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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    Quote Originally Posted by zimmer View Post
    No... but they should be concerned about the longterm competitive nature of their company, and look out for longterm shareholder value.

    .
    If companies were to do that, they would worry about providing jobs that would enable Americans to afford their products.

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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    Quote Originally Posted by tlmorg02 View Post
    This is how capital works. The Chinese can pay and our companies sell. They are concerned with profits, not national security. Is it GE's job to protect this country?
    Apparently, it used to be:

    August 4, 1914: Great Britain declares war on Germany and Austria-Hungary, joining in the start of World War I, or The Great War. Radio traffic across the Atlantic Ocean swells as the Germans cut Allied cable telegraphs and governments and businesses have even more to discuss.

    June 4, 1915: Nally proposes to General Electric Company that GE and American Marconi organize a joint monopoly for the production and operation of wireless communications technology (GE’s scientists and engineers have developed powerful means of transmitting Morse code and voice by both electromechanical and electron-tube means).

    April 8, 1919: Captain Stanford C. Hooper and Admiral W. H. G. Bullard, U. S. Navy, meet with General Electric Company executives to ask that they not sell their Alexanderson alternators to the Marconi companies. This marks the beginning of negotiations by which GE would buy American Marconi and organize what would become the Radio Corporation of America.

    David Sarnoff Library
    Today, GE's Chinese joint-venture partner that it wants to transfer technology to is a state-owned holding company with subsidiaries that produce both civilian and military aircraft. The Chinese are holding the carrot of market access in order to gain access to our technology. That's not capitalism, bud. That's looking out for your national interest, something we used to be good at.
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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    Is it GE's job to protect this country?
    It certainly is the job of our idiot president and the Congress. They should not allow GE to share technology with China.

    If companies were to do that, they would worry about providing jobs that would enable Americans to afford their products.
    Are you serious? GE pays vey well and if they paid their workers enough so that they could all buy a GE jet engine they couldn’t pay dividends to the share holders – who own the company. If very many share holders sell their stock GE would have no borrowing power and would die.

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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    Quote Originally Posted by tlmorg02 View Post
    This is how capital works. The Chinese can pay and our companies sell. They are concerned with profits, not national security. Is it GE's job to protect this country?
    I think they owe us something.

    GE gets $2.5M in stimulus money

    GE gets $2.5M in stimulus money | Business First

    (CNSNews.com) - The Obama administration gave corporate giant General Electric—the parent company of NBC--$24.9 million in grants from the $787-billion economic “stimulus”

    Obama Administration Gave General Electric

    GE pays no tax in 2009
    GE, Exxon Paid No Taxes in '09

    The medical-equipment manufacturing unit at General Electric Co. (NYSE:GE) generated $4.7 billion in revenues during the quarter, up nearly $900 million from the previous three-month period. Segment profit topped the previous quarter by $403 million, or 79.3 percent, climbing from $508 million during the quarter ended Sept. 30, 2009, to $911 million over the final three months of the year.

    GE Healthcare's Q4 profits spike 80 percent over Q3 | MassDevice - Medical Device Industry News

    By MSNBC Standards, GE's $16 Billion in Bailout Loans Compromises NBC News Coverage | NewsBusters.org
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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    After awhile, it gets hard to respect American Big Business.

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    Re: G.E. to Share Jet Technology With China in New Joint Venture

    Quote Originally Posted by Iron River View Post
    Are you serious?
    I think he's being sarcastic, unless the "slightly liberal" label is a facade. But I've seen plenty of "conservatives" who would sacrifice their first-born sons for a nickel.
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