President Barack Obama declared to Australia’s Parliament (NYSE:EWA) he’s made a “deliberate and strategic decision” to ensure the U.S plays a long-term role in Asia. This is certainly coming true with the large value of business and trade deals that have been accomplished during his trip to the Asia Pacific. Of particular note is the $22 billion airplane order that was obtained from Indonesia’s Lion Air in favor of Boeing (NYSE:BA). The order is likely to generate more than 110,000 jobs at Boeing and its suppliers across 43 states, including General Electric (NYSE:GE).
This example of business working with the administration working has been appreciated all around. “This is an example of a win-win situation where the people of the region are going to be able to benefit from an outstanding airline,” Obama said Nov. 18 in Bali, alongside executives from Boeing (NYSE:BA) and its customer Indonesian carrier Lion Air. “Our workers back home are going to be able to produce an outstanding product made in America.”
This does not mean all is utopian with the relations between the administration and U.S. business. Critics mock the mutual admiration on Obama’s tour saying it’s merely grandstanding for the occasion. They point to the rather high-profile dispute between the National Labor Relations Board and Boeing relating to a purported violation of labor laws by the company when it started to build a 787 Dreamliner plane at South Carolina. In June, the President was ambivalent on the issue saying, “as a general proposition, companies need to have the freedom to relocate. What I think defies common sense would be a notion that we would be shutting down a plant or laying off workers because labor and management can’t come to a sensible agreement.”
Time will tell whether the US can secure more contracts for companies across the globe. The economy could sure use the help.