When it comes to China, American business should pay more attention to the the Rio Tinto trial than the Google fight, according to business icon Jack Welch.
"Rio Tinto is more of an issue, I think, than Google," the former chief of General Electric said in a Tuesday interview on CNBC's "Squawk Box."
Four employees of the Australian mining giant are currently on trial in China. Originally charged with espionage, they have pleaded guilty to taking bribes. They face jail terms of over 5 years. (Read more about the case here).
Welch said he believed CEOs should be more concerned about the outcome of that case in terms of developing business in the world's biggest growth market. He compared it to past situations in Colombia, where businesses hesitated to send employees for fear of kidnappings.