Caterpillar CEO Compliments China

by Laura Ehrenberg-Chesler on April 26, 2012

in Earnings,Foreign Markets

On Wednesday, April 25th, Caterpillar reported earnings for their first quarter. Many analysts focused their conference call questions on growth, or the lack thereof, in China.

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CAT’s CEO did acknowledge the longer-term slowdown in China’s rate of growth from 10%-15% to a more sustainable 7%-10% growth rate. He also allowed that China has done a remarkably good job of taming a very high rate of inflation, and a potential real estate bubble, by raising interest rates, and raising the down payment requirements for individuals buying second or third homes. Many U.S. companies have a stake in seeing China prosper and grow, but that growth must be managed with an eye toward sustainability, not short term goals. According to Douglas Oberhelman, the CEO of Caterpillar, China is doing a very commendable job in ensuring this outcome.

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