RE: RE: RE: RE: RE: Q&A with Rick HuangCEO of GE public about his energy dealings and criticized China.
After bragging he was going to be extremely profitable and grow business..not working out
Just five years ago, General Electric (
GE),Denmark's Vestas, and other foreign wind turbine makers controlled 71percent of China's market. But as Beijing has supercharged spending onrenewable energy, the Western companies have faced increasinglyaggressive local competition. By last year, their share had fallen to 14percent, although sales are still headed upward. "It's a tough market,"says Jesus Zaldua, president of Gamesa China, a subsidiary of Spain'sGamesa that has four wind turbine factories in the northeast city ofTianjin. "Some companies will have to leave China in the next fiveyears."