Word: growth
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...global car business may be on the verge of a big upswing in demand. Companies that can meet consumers' needs for fuel-efficient yet stylish cars - and that have flexible manufacturing plants to turn out the hot products on demand - are likely to find huge opportunities for growth once the economy recovers. That's partly why there's so much riding on the Administration's plans to revamp GM - and why it had better happen fast. If U.S. automakers don't take advantage of the coming car boom, the rest of the world will. See pictures of Detroit's decline...
...Lastly, the auto demand curve is a leading indicator out of a recession. Any GDP growth will correlate directly with auto sales - until growth reaches 4%. At that point, sales growth then turbocharges to about 7%, if the past is any measure. Analysts insist that when you combine the replacement demand, scrappage rates, demographic changes and an economic recovery, there's a case to be made that North American demand will approach 16 million units within five years. "We haven't seen this kind of positive force in replacement demand for this amount for a while," says the auto economist...
...terrifying pace. The International Labor Organization (ILO) predicts that 38 million people around the world could lose their jobs this year alone, sending unemployment rates in Europe and the U.S. into double digits for the first time in years and slowing - or in some places reversing - the massive jobs growth of recent years in Asia. Alarmed by the social and political consequences, governments, companies and labor unions in countries across the globe are scrambling to put in place a range of measures aimed at minimizing job losses...
...comments were filled with economic jargon but pregnant with meaning. "If there's going to be renewed growth, it can't just be the United States as the engine. Everybody is going to have to pick up the pace," Obama continued. He went on to say that the world would have to shift away from the situation where other nations are "only exporting and never importing" to a "balance in how we approach these issues...
...United States will act to cut the U.S. fiscal deficit in half and bring the deficit down to a level that is sustainable," the statement reads. "President Hu emphasized China's commitment to strengthen and improve macroeconomic control and expand domestic demand, particularly consumer demand, to ensure sustainable growth and ensure steady and relatively fast economic development...