Going the way of China?

Charlie Rose recently had a guest on his show by the name of Jeffrey Immelt. Mr. Immelt is the President's Council on Jobs and Competitiveness. During the interview which can be seen in it's entirety here, a variety of subjects are being discussed based around jobs, growth and competitiveness.

In the clip below taken from the original interview sourced above, Mr. Rose begins to talk about the change happening in America and China, and how China's growth rate was in double digits, but now seems to be stabilizing at around 8 percent. The question he poses is how will this affect China and America.

Here's Mr. Immelt's remarks...

In China, corrupt officials got a bullet behind their ears whereas in America they are rewarded with billions and gazzilions to be distributed with their cronies. America is capable of buying back all those sub primed loans but no, people doesn't needs saving but those friggin' corporations does. Right stimulus, wrong priority.


To answer the OP. I guessed that if we can't beat them, join them.