US Companies: Forget USA! Our profits come from China. Forget unemployed people in US. Who cares.
Economic treason. Companies churn out profits but not jobs … The sytem is whacked, out of touch with reality.
world’s largest maker of air conditioners and elevators, said second-quarter profit rose 19 percent, and it is doing most of its hiring in emerging markets where demand for its products is growing fastest
Big businesses would normally be desperate for surging job growth as it would feed into domestic demand but these aren’t normal times. Massive growth opportunities overseas, especially in China and other buoyant Asian economies, have some of the largest American companies on track for record profits, even if they’re businesses are mostly treading water in the U.S.