So this is what the global economy has come to.

The wealthiest corporation in the world, General Electric, told its suppliers point blank: "Migrate or be out of business; it's not a matter of if, just when."

That's the message that GE gave its "Supplier Migration Conference" in Monterrey last year. There, the company told suppliers to move to Mexico or lose GE's business for good.

"GE is pressuring its suppliers, not its own companies, its independent suppliers, to move to Monterrey, Mexico in two years or lose their GE business," said IUE President Ed Fire, who also chairs a 14-union bargaining committee with GE. "These suppliers talk about how they don't want to move, but may have no choice because GE is so powerful."

One supplier reported that GE officials made it clear: "This is not a seminar just to provide information - we expect you to move and move quickly." GE reportedly told them, "We sincerely want you to participate and will help, but if you don't we will move on without you."

The company has already "moved on" out of Indiana. There, GE shifted 1,400 refrigerator manufacturing jobs (at about $25 per hour) from Bloomington to Celaya, Mexico (where workers earn about $2 an hour).

"We must globalize every activity in the company," said GE CEO Jack Welch in the company's annual report. "We will move aggressively to broaden our definition of globalization by increasing the intensity of our effort to search out and attract the unlimited pool of talent…available in countries in which we do business."

GE's unions say the order to move overseas spells big trouble for workers because other multinational corporations may mimic GE's globalization strategy.

"This is free trade gone amok," said IUE Local 201 President Jeff Crosby.

By the way, GE in 1998 was the first company to earn more than $10 billion profit in one year.