It took less than a year for America’s factory output to rebound from the 1991 recession. It took 3½ years to bounce back from the 2001 recession. Now, six years clear of the Great Recession, manufacturing output still hasn’t returned to the pre-crisis levels it reached in 2007, according to revised economic data from the Federal Reserve.
Growing trade deficit and the collapse of manufacturing output following the Great Recession are directly responsible for the loss of 5 million U.S. manufacturing jobs that occurred between 2000 and 2014. As the figure below shows, manufacturing started rapidly declining in 2000, just as the U.S. manufacturing trade deficit began to rise sharply. A rising […]
Costco Wholesale Corp. customer sued the retailer on allegations that it knowingly sold frozen prawns that were the product of slave labor.
Slave labor forced to work for no pay for years at a time under threat of extreme violence are being used in Asia in the production of seafood sold by major US, British and other European retailers, the Guardian can reveal.
In 2013, General Motors polled some U.S. Buick dealers about their volume and model-mix expectations for a new vehicle: a compact crossover that has since been launched in China as the Buick Envision.
The UAW said Tuesday it plans to address during contract negotiations the speculation that General Motors Co. is considering importing a Buick SUV to the U.S. from China.
The Ford Taurus, once the flagship in Ford’s range, apparently has fallen on hard times.
Twenty-five years ago, Ni Meijuan earned $19 a month working the spinning machines at a vast textile factory in the Chinese city of Hangzhou.
Ford Motor Co. announced, Wednesday, Aug. 12, that Ford F-650/F-750 medium-duty trucks will for the first time roll off the line in the United States, at the company’s Ohio Assembly Plant in Avon Lake.
Less than three months before China shocked markets with a surprise devaluation of its currency, a top Chinese exchange-rate official told a closed-door gathering that Beijing had no need for such a dramatic move.
