Looking out for their Middle Class: China - if we buy your planes, our workers will help build them.
Jobs and trade is an important political issue this year.
Shanghai (AFP) - US aerospace giant Boeing has reached deals with Chinese firms to sell 300 aircraft and set up a completion centre in China, state media and its local partner said Wednesday, as President Xi Jinping began a visit to the United States.
"The emerging middle class in China is helping to boost demand," Mohshin Aziz, an analyst at Malayan Banking Bhd., told Bloomberg News. "Most of the planes ordered will be for growth and very few will be for replacement."
Shukor, with Malaysia-based Endau Analytics, said China was unique in that orders came from the government and planes were then distributed to the airlines and leasing companies.
"To put it simply, it's a trade-off," he told AFP. "China buys 300 aircraft and Boeing builds a plant in China in return."
Shukor said China was leveraging the rivalry between Boeing and Airbus to get the best of both worlds in developing its own aircraft manufacturing.
http://news.yahoo.com/boeing-sets-300-plane-order-plant-china-report-093248011--finance.html
Well, it's good to know some country is looking out for their working class. Unlike Washington, where loyalty is for sale to the highest bidder.
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