France’s Sarkozy Helping China Spend Money
China is spending some serious money while France's Nicolas Sarkozy is in town.
China agreed to buy 160 Airbus planes for $17.4 billion – the biggest deal ever in Asia with the European aerospace giant.
China's domestic air traffic is expected to double every five years.
By 2020, three of China's airlines will be in the world's top ten in passenger traffic.
Airbus is building an assembly plant in Tianjin, about 70 miles east of Beijing.
Meanwhile -
China also inked an $11.9 billion nuclear deal with the French company, Areva SA, the world's largest maker.
Guangdong ordered two nuclear reactors.
Areva's main competitor – Toshiba of Japan.
In July of this year, China ordered $5.3 billion worth from Westinghouse, a subsidiary of Toshiba.
China gets 1.6% of its nation's energy from nuclear power. That percentage will climb by two reactors a year from now till 2020.
What would you like to sell to China?
They certainly have deep pockets these days.
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