As usual, the gentleman is right on the mark. We know that these major corporations are looking at China as a labor pool of 1.3 billion. Here are some quotes that we pulled out from some of our major corporations. Coca Cola Systems in China spends about $600 million each year in sourcing all of its raw materials and packages within China. Delphi Automotive Systems aims to eventually close the gap between the Chinese automotive component industry and the world. Dow Chemical seeks to create in China the large scale production required to be a major supplier to customers in China and beyond. In Eastman Kodak's view, in a market such as China with the value of businesses expected to grow rapidly, local manufacturing is simply a better business model. Eastman Kodak's China manufacturing operations reflect Beijing's determination to create professional enterprises which could displace imports and boost tax revenues. GE Shanghai Silicone's factory will replace imports from the United States, and on and on and on.
Editor's note · Context
Discussing the impact of U.S. corporations investing in China during a floor speech.
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