Hong-Kong-based John Rice is among the most senior American businessmen ever posted to one of the world’s emerging markets. Number two to General Electric’s chief executive Jeff Immelt, the 55-year-old heads the conglomerate’s global operations, and relocated from the US last year in a move designed to accelerate globalisation and to locate top executives close to the economies that now drive world economic growth.

At the same time, however, GE is recruiting managers who were born in emerging markets in order to draw on the expanding pools of educated talent in China, India and other developing countries – and to bring into the group an ever-wider range of professional – and human – experience.

“We will soon have 2,000 interns from outside the US,” says Mr Rice. “This is 10 times more than a few years ago. We want to develop local talent – and to give aspiring leaders in our business a shot at senior roles. Management is always a blend of outside and inside talent.”