Word: sectoral
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...produce is beautiful, but it's neither particularly sophisticated nor difficult to replicate. In other words, Italy's economic structure is almost perfectly composed for an attack by China, which excels in moderately sophisticated manufacturing and can turn out products far cheaper than is possible in Western Europe. In sector after sector--from textiles to shoes to furniture--companies have been losing ground...
...sign of social regression," said Gilles Debin, a white-collar union official who joined the Saturday protest in Paris. "It leaves the workers with no recourse, and we'll oppose it and anything like it until it's withdrawn." Even many with sinecures in the public sector saw the law as the start of an invasive ultra-liberalism that would one day threaten their livelihoods. The young - those most in need of a leg up - heaped scorn on a law intended to help them. Serbian-born Zeljko Stojanovic, 19, joined the march with fellow high school students of foreign origin...
...auto industry in particular--still the bellwether for a globally successful manufacturing sector in many European countries--managers have had to make tough choices that have proved politically controversial. In Europe, unions still have considerable political power, not to mention seats at the board of directors table. DaimlerChrysler has said it is looking for a reduction of 14,500 jobs at Mercedes, while Volkswagen in February announced 20,000 job cuts. In such an environment, Renault appears to be defying gravity by promising ambitious results without the pain of slashing labor costs. Indeed, Ghosn is pledging to increase annual...
...business news that Ghosn himself has warned of," says Christophe Laborde, an auto-industry analyst for ING in Paris. That could undermine Renault's share price, Laborde continues, and force Ghosn to respond with wider job cuts such as rivals have made. Meanwhile, Philippe Martinez, head of the automotive sector at the General Confederation of Labor, France's labor union, is pleased that the plan has avoided firings. But he would also like to see "significant numbers of new workers" hired, "to allow us to produce so many new cars at higher quality standards within the tight deadlines the plan...
...That’s been true for a long time,” he said. “The public sector is much larger and covers a much larger range...