The Change Mariner

Jack Welch On the New 'Old Economy'

The Australian:

... In the short term, Welch sees a US where the economy will remain sluggish but corporate profits will rise strongly because companies have substantially lowered their costs, their balance sheets are strong, interest rates are low and the US dollar has fallen -- giving them extra pricing power.

...

Welch believes that the Internet was a new technology that substantially lowered business costs, rather than a new business model, and relatively few companies were able to create new businesses out of the internet.

...

Welch believes that China will be an enormous force in global business during the next 50 years. As China moves to make half the world's manufactured goods, he can see many countries debating whether they should limit the amount of Chinese manufactured goods they import each year.

Very interesting 'change' perspective from someone in the know.

-Tim

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