Ford has long been at the forefront of the currency debate, claiming currency manipulation when the yen went to levels that nearly killed the Japanese auto industry, and shouting “currency manipulation” now that the yen is back to normal levels. Now, Ford itself experiences the devastating effects of changing exchange rates: Ford is shutting down all its manufacturing operations in Australia. The reason: A strong Australian dollar. Says Reuters: (Read More…)
Tag: car industry
This is the message the Chinese government sends to the world in its new Foreign Direct Investment Industry Guidelines, which were released yesterday. These guidelines open more sectors of the Chinese industry to foreign investment, but they effectively close the door to foreigners who want to play in the increasingly overcrowded Chinese car industry.