At the G-20 Summit in Pittsburgh later this week, people will hear about the city's slump and rebirth. That's good as far as it goes, but it dodges the ultimate question. Can the United States remain the world’s consumer forever? Or will the G-20 chart the process by which the global economy after the crisis is more balanced, less dependent on U.S. consumption, and sustainable in Pittsburgh as well as Beijing?
economist.com — Pittsburgh does not rely solely on UPMC or the health industry the way it once leant on steel. When the steel industry collapsed in the early 1980s, the city and region lost 120,000, or about half, of all its manufacturing jobs. Some 50,000 Pittsburghers left the region annually. The city’s revival since then has been part organic and part good long-term planning. State and local officials provided investment, while universities and community and corporate leaders came together to develop economic and business strategies for the region. Pittsburgh’s employment has, over the ensuing three decades, diversified quite well.
truthout.org — Last month, Toyota announced it would close the New United Motor Manufacturing Inc. (NUMMI) plant in Fremont, California, after General Motors announced it was withdrawing from the partnership under which the plant has operated for over two decades. The plant employs 4,500 workers directly, and the jobs of another 30,000 throughout Northern California are dependent on its continued operation. Taking families into account, the threatened closure will eliminate the income of over 100,000 people.
detnews.com — President Barack Obama deserves credit for making a tough call on trade and imposing tariffs on consumer tires from China for the next three years, resisting the pleas of most opinion elites across the nation and one of the principal financiers of our massive public debt: China's government.
“Protectionism” is a very powerful word. In fact, simply evoking the word is capable of ending debate on any subject related to trade. Invoking the magic words, “You can’t do that, it would be protectionist,” settles all arguments. more »
washingtonpost.com — The nation's factories boosted their output in August for the second straight month, the latest confirmation that an economic expansion is likely underway. Meanwhile, consumer prices rose last month, but mainly due to higher prices for gasoline.
truthdig.com — Three decades of fundamentalist faith that markets work best when undisturbed by common-sense rules have culminated in the current Great Recession, in worsening inequality and diminished prospects for American workers. There comes a time for everything. And the right time to stand against unfair trade is now.
nytimes.com — Now automakers must prove that the technology, and the market, are ready.
After years of talk and prototypes, some automobile makers believe the electric vehicle is about to become more than just a science experiment.
The French company Renault will unveil a lineup at the Frankfurt motor show this week that includes a purely electric sedan, without a backup internal combustion engine. Renault says the vehicle will be in showrooms by 2011.
washingtonpost.com — The prospect of a trade war with China fueled fears of wider fallout Monday, rattling bond markets and prompting many economists to criticize President Obama's decision to slap import tariffs on Chinese-made tires.