GE CEO Jeffery Imelt: (Chinese) “State Run Communism Works”

This guy is something else. Take a look at the above picture taken when business leaders reported to the White House in the wake of Obama’s victory. Look at Obama’s face.

Imelt backed away from the president this year as he hedged his bets leading up to the election. Obama was not happy as one can see in the photo. But Jeff, what a guy, he just knows what to say. All is forgiven at the White House.

And how could this White House not love the guy? Come over here Imelt, you loveable spaniel. Let me ruffle your hair. Now who’s a good boy? Who wants some more government contracts? I think Jeffy does. I think he does. Good boy.

Today, on Charlie Rose, Imelt asserted that the Chinese have really got their economic act together and that presumably we have much to learn from the Ultimate Crony Capitalist State. Just ask the workers at the Foxxcon plant who would rather kill themselves than make more laptops. The Chinese economy is a dream come true.

But crony capitalism works for GE, so it must be good for everyone right?

As the attached article notes, GE is in the business of building coal fired and nuclear power plants in China. So being the crony capitalist that he is, Imelt thought it wise to pay a little lip tribute to the business overlords in Beijing on a high profile American talk show. They control his business.

He is getting pretty good at it as the central planners in Washington demand the same sort of attention these days.