Chinese Competition in the Aircraft Industry
As Americans seem to focus more and more on the present, along with its quarter to quarter short term results, China continues to invest in long-term projects. China has teamed up with Western suppliers such as Honeywell and GE to start a state-owned aircraft design and production industry. China knows that with its growing economy and increased demand for air-travel that it is projected to order more and more aircraft from Boeing and Airbus. That is unless it can supply that demand through its own state-owned aircraft industry as this article in Bloomberg points out, “China Takes Aim at Boeing and Airbus”. The Chinese being a competitor in the aircraft industry is becoming a reality as Western suppliers of Boeing and Airbus are on board. I wonder if this increased competition will bring down the price of both commercial and private aircraft. I am also curious if this will affect the price of air-travel.