GE Unit Moving to China

Due to uncertainty in the marketplace, American companies are not investing earnings to create growth and more jobs. The Obama administration has even complained that companies are just sitting on piles of cash and contributing to the economic doldrums of the U.S.

Meanwhile, there appears to be little concern that a General Electric Co. unit is moving its business from Wisconsin to China with plans on investing $2 billion and creating jobs.

GE Healthcare, a maker of diagnostic imaging equipment, said Monday it is moving its X-ray global headquarters from the United States to Beijing as it seeks to tap China and other emerging markets.

The General Electric Co. unit is the first business of the industrial and financial giant to relocate to China.

Anne LeGrand, vice president and general manager of GE Healthcare Global X-Ray, told a news conference that the decision to move from Waukesha, Wisconsin, was made two years ago and will be completed by early fall.[…]

The move follows an announcement last year that GE plans to invest $2 billion in China, including $500 million in six research centers, one of which GE X-ray is developing in Chengdu in central China. The company has already hired "close to 100 engineers" for the center in Chengdu, LeGrand said.

Despite the criticism, not all American companies shun investing their earnings to create jobs. It's just not being done in the United States.