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Politics : Stockman Scott's Political Debate Porch
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To: lurqer who wrote (21685)7/9/2003 10:56:16 AM
From: Jim Willie CB  Read Replies (2) of 89467
 
China will next wreck the auto parts sector in USA

from Daily Reckoning:

Automotive News: "The shift to Chinese production
eventually will cost hundreds of thousands of manufacturing
jobs in the United States. And it will put more pressure on
smaller, cash-strapped suppliers to make a risky investment
on a distant continent.

"Both Ford and GM are offering a two-continent deal. If a
supplier builds a factory in China, it can sell parts to a
Ford or GM assembly plant in China, then export parts to
the automaker's North American assembly plants. Those deals
are starting to add up. According to the U.S. Department of
Commerce, total imports of Chinese auto components totaled
$2.2 billion last year, nearly triple the volume of imports
in 1997.

"China will dwarf the impact Mexico has had on the U.S.
auto industry, says Detroit economist David Littmann. From
the perspective of North America's purchasing managers,
Littmann says, "China is vastly more encouraging than
Mexico.

"For automakers, China looks like a bargain. For suppliers,
that price can be steep. In the years to come, segments of
the U.S. supplier industry may migrate to Asia. For
example, U.S. mold and die makers already have lost an
estimated 6,000 jobs to Chinese rivals in recent years."
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