As China plans to build a raft of roads, rail lines, ports and airports across Asia, Africa and Europe, skeptics say Chinese companies will be the only real winners from the ambitious initiative. General Electric, The New York Times reports, disagrees. In 2014, Chinese construction and engineering companies ordered just $400 million worth of equipment from G.E. to install overseas, overwhelmingly in the region that encompasses the effort, known as “One Belt, One Road.” Last year, those orders totaled $2.3 billion, and G.E. plans to bid for an additional $7 billion in orders for natural-gas turbines and other power equipment in roughly the next 18 months. “We have a laser focus on winning these,” said Rachel Duan, the chief executive of General Electric China. If enacted as planned, the initiative could lead to a global building spree; China has promised more than $1 trillion of investment over the long term. Western companies are angling aggressively for a piece of the action.
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