Only those who move quickly to resize themselves will survive and prosper in the '90s. We need to approach the realities of the defense businesses with the same resolute behavior that saved our core manufacturing businesses during the difficult times of the '80s. The media have made change real to everyone. People have seen the status quo tipped upside down all over the globe, and, as a result, it is no longer as difficult to make the case for being on the leading edge of change in everything that we do. Fourth - we believe that the global positions that we worked so hard to establish in the '80s will be especially advantageous in the '90s.
Globalization is no longer a lofty idea.
It is the key to the future for nearly every business in this Company. In the Soviet Union the shift from defense spending to other priorities fits GE strong suits in Power Systems and other infrastructure products - as well as plastics, medical systems and jet engines. Mexico under President Salinas has made major strides in combating inflation and slowing the flight of capital. India is another country that has the potential of becoming a major economic player in the next century - and positioning ourselves there during this decade is important. While India's greatest potential lies in the next century - there are significant opportunities for us during the '90s if we are agile enough to capitalize on them.