Because they never learn. The object lesson today is General Electric, which has signed a deal for the transfer of jet engine technology to China.
GE is run by complete lunatics if they are betting that the Chinese will not be able to master jet engine technology. The Chinese are well-experienced at buying technological goods from other nations and then stealing the trade secrets necessary to reproduce them. The Chinese reverse-engineered the Russian Su-27 jet fighter to build the Chinese J-11. The Russians were so hacked off about that bit of theft (capping many others) that the Russians refused to sell any Su-33 navalized jet fighters to China.
In a relatively short span of time, probably less than 20 years, China will be making their own engines that are every bit as powerful as Western ones, because greedy Western engine makers taught them how to do it. This is the dumbest idea since the British taught the Soviets how to built the Nene jet engine, which powered the MiG-15.
But hey, you pay a businessman enough money, he'll sell you his kids. Which in essence is just what GE is doing.
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6 comments:
"he'll sell you his kids. Which in essence is just what GE is doing."
Not even metaphorically. Holy crap. Didn't they execute a couple for sending military secrets to Russia a while back?
and then eat them if that's what it takes to make that sale.
Is there anyone on either party looking at this? WTF. I used to work for Delphi, which basically took their patents and ran to China and Europe. Just another Auto company bailing out you say? Well, Hughes Aircraft, and EDS were taken over by GM, then spun off to Delphi. More technology developed by Americans, then sold to the highest bidder. Why do we do this to ourselves?
Paul & Deb, we do this to ourselves because companies are led by short-sighted greedy weasels who only are about the current profit margin because that determines the size of their bonuses.
If they were thinking long term, the president would have had the head of the person who suggested this deal stuck onto a pike outside of the company's headquarters.
I thought the State Department had to OK sales of military technology to other countries.
As long as the obscene compensation and bonus mentality/greed of the corporate elite is unchallanged this will not change. I think these CEO's figure that they and their families will be so rich for so long that it doesn't matter what happens to the country. Why can't we have some pay restrictions similar to Japan's, where the top pay of the executive level cannot exceed ten times the lowest paid employee's pay. Eisenhower was right!
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