April 8th, 2008
It is so often I report on bad news in regards to American manufacturing, it is very refreshing to report some good news today.
With the weaker dollar and some models that actually appeal to foreign markets, The Wall Street Journal this morning reported Detroit intends to substantially increase car exports. Of course, this won’t block the tidal wave of imports, but every little bit helps. Including:
Enclaves built by GM in Lansing to China, Malibu’s built by GM in Kansas and Michigan to Latin America, and Chrysler’s Dodge Caravan to Europe. Also, BMW is apparently investing $750 million to expand production at their South Carolina plant for export to Europe.
This not just helps those working at those plants, but also the hundreds of local companies that supply them.
This will also be a good opportunity to see if countries that have enjoyed wide open access the USA market are willing to tolerate receiving imports. Having lived abroad in Asia twice, that is not a bet I would be willing to take in the short-run. However, in the long-run, who knows?