He said that the future prospects for the construction sector are very good, even though market conditions are not so strong at present. He is optimistic and commented, “We’re keeping a close eye on the world outlook. The base is for modest growth.”
The emerging markets are the key to growth, with Brazil and India proving healthy. Developed markets will also see a gradual return and he said, “In the US, we do think the fiscal difficulties will be addressed during next year.”
In the long term though, Caterpillar expects demand to rebuild and Rapp said, “Over the next 10-15 years the investment in global infrastructure is going to be amazing.”
Qihua Chen is Caterpillar vice president Caterpillar China Operations and he pointed out that Caterpillar’s technology transfer partnerships with Chinese manufacturers have been of enormous significance. He said, “Caterpillar contributed to the growth of the Chinese construction machinery industry.”
And the firm is investing heavily in China and is building another five factories also, in addition to the 22 facilities it has at present in the country. He said, “In the next 10 years, China will be the country with the highest growth potential.”
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