Word: regionals
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...tiny Fiat 500 is one of the first cars Chrysler hopes to build in North America through its new alliance with Fiat. "It's highly, highly likely that the Fiat 500 will be built in the NAFTA region," said Chrysler vice chairman Tom LaSorda after the deal with Fiat was completed as part of the company's structured bankruptcy. Lasorda added that Fiats will probably begin showing up in American showrooms within the next few months...
...doubt that enlargement helped transform the region. Eight central and eastern European countries joined the E.U. five years ago along with Cyprus and Malta, while Romania and Bulgaria followed in 2007. The enlargement process encouraged a wrenching industrial overhaul of those nations, based on the privatization and liberalization that was set as part of the price for E.U. membership, and in doing so shepherded their makeovers from stodgy Soviet vassals into economic dynamos. Slovakia and the Baltic states saw growth rates as high as 7-10% in their best years. And in Poland, the unemployment rate dropped from...
...economic crisis than Asia's manufacturers. With unemployment on the rise, credit tight, and uncertainty high after the financial meltdown on Wall Street, consumers in the U.S. - Asia's most important customers - slashed their purchases of the toys, blue jeans and flat-panel TV sets churned out by the region's factories. The consequences have been disastrous. Every major economy in the region, from Japan to Singapore, has seen exports contract sharply, usually by eye-popping double-digits. Taiwan registered year-over-year declines of more than 20% for five straight months starting in November. China saw year-over-year...
...trade between Asian economies is picking up, that trend lends weight to the belief held by many economists that Asia could emerge from the recession ahead of the U.S. and Europe, based primarily on improved economic activity within the region. "Intra-regional trade will play a much more important role in a recovery (in Asia) than people thought," says Andrew Freris, senior investment strategist for Asia at BNP Paribas Wealth Management in Hong Kong. "And that is good news." (See pictures of the global financial crisis...
...There is still a limit to how far Asia can rebound on its own. Demand in the U.S. is simply too important to Asia's export machine for the region to experience a full recovery without an increase in American consumer spending. There are recent signs, however, that U.S. demand might also be poised for a rebound. The Conference Board's consumer confidence index rose in April by the most since 2005, signaling that American shoppers might be ready to start buying again. The U.S. government also revealed in late April that inventories in the U.S. fell by a record...