Any way you look at it, the United States and European Union will remain dominant players in world trade over the next two decades. The real question, says the World Trade Organization in a new report, is how much ground they cede to rising economies like China.
Treasury Secretary Jack Lew says that cyber theft is a real problem in China that "has to stop." It is a competitive world, Lew says, but despite problems, the United States has emerged strongest from the recession, which shows that the United States remains among the strongest and largest economies in the world.
Jobs growth remains weak among the world's 20 biggest economies, where almost a third of the 93 million unemployed have been out of work for more than a year, top labor and development officials reported Wednesday. In a batch of new figures intended to push G-20 governments into action, the U.N.'s International Labor Organization and the Organization for Economic Cooperation and Development warned the rate of employment growth remains low.
General Motors' global sales grew almost 4 percent in the first half of the year, enough to fend off Volkswagen for second place and perhaps close the gap with sales leader Toyota. GM said Tuesday that it sold 4.85 million cars and trucks worldwide from January through June. That puts GM on pace for sales of around 9.7 million for the year.
The Datsun re-launch was no ordinary car launch. Nissan CEO Carlos Ghosn even called it "a historic moment." Datsun, a brand that Nissan phased out in the 1980s, has been re-launched in India with the low-cost Datsun Go. The Datsun Go is priced at 400,000 Indian Rupees, or about $6,700 U.S.
South Korean steel giant Posco has pulled out of a proposed $5.3 billion steel plant in the southern Indian state of Karnataka in a new blow to government efforts to attract foreign investment to spur growth. The company said Tuesday it scrapped the project because of inordinate delays stemming from local opposition to land acquisition for the project.
Authorities in a southern Chinese city on Saturday scrapped a plan to build a uranium-processing plant, one day after hundreds of local residents protested against it because of safety concerns. The city government of Heshan in Guangdong province said in an online statement that it would halt the 37 billion yuan ($6 billion) project by China National Nuclear Corp.
Nissan launched a new Datsun in India on Monday, three decades after shelving the brand that helped win Western acceptance of Japanese autos. The company hopes that bringing back the brand that built its U.S. business will fuel growth in emerging markets with a new generation of car buyers.
The United States needs more startup companies and innovation to compete with the rest of the world, General Electric Co. chairman and CEO Jeff Immelt told the University of Wisconsin Board of Regents on Friday. Immelt said the U.S. needs more risk capital to help fuel startups, less government regulation, a greater emphasis on research and development and more cooperation with higher education.
Disposable flatware maker Trellis Earth Products is moving its manufacturing operations from China to upstate New York, where it will create 189 jobs. Trellis, with headquarters in Portland, Ore., plans to break ground on an $8 million, 80,000-square-foot facility in the Rochester Technology Park by the end of the summer.
Who, at this point, hasn’t heard about Chip Starnes, the American co-owner of a medical supply company, who was held against his will for five days by his own Chinese employees? As with most other news of labor relations coming out of China, many are using this event as another example of why manufacturers need to be moving back to the U.S. as soon as possible. I wouldn’t be so quick to judgment.
Louisiana is giving $6 million to help a Russian chemical company build a $1.5 billion fertilizer plant and distribution center in the state. Moscow-based EuroChem, which ranks itself among the world's top 10 fertilizer producers, will choose between two sites — one in Iberville Parish and one in St. John the Baptist Parish.
Japanese auto parts maker Denso Corp. will invest approximately $51.4 million (about 5.1 billion yen) to expand the Silao plant, which will start producing air conditioners in October, to accommodate the new line for customers such as Ford Motor Co. and Toyota Motor Corp., as they increase production in the region.
In this issue, manufacturers face new resources as they look to improve the visibility of their facility's assets, Lantech talks 40 years of innovation, and IMPO readers reveal how evaluate their current equipment and potential purchases when it comes to energy efficiency, and more.
A group of 17 North American retailers and clothing makers has agreed to a five-year safety pact aimed at improving conditions at Bangladesh factories that calls for inspecting all factories that supply their garments within a year. They also agreed to set up basic safety standards within three months and are requiring that the inspection results of the factories be made public.
Talks between the rival Koreas aimed at restarting a stalled inter-Korean factory park ended Wednesday with no breakthrough, but both sides agreed to meet again next week to discuss restoring what was once a rare symbol of cooperation between the archrivals.
China's trade declined abruptly in June in a sign growth in the world's second-largest economy might be cooling even more sharply than expected. Exports fell by 3.1 percent compared with a year earlier and imports contracted by 0.7 percent, customs data showed Wednesday. Both were below forecasts of growth in the low single digits.
It might look like a model airplane, but don't let the size fool you. The Heron 1 is the latest in Israeli drone technology and the growth engine of Israel's defense industry. Between 2001 and 2011, 41 percent of drones came from Israel. President and CEO of Israel Aerospace Industries, Joseph Weiss, explains why this technology is a necessity.
Last year, Chinese consumers bought 19 million cars and trucks — 5 million more than consumers in the U.S. Ford's share of those sales was just 3 percent. Years of corporate chaos and financial trouble slowed Ford's entry into China as its rivals gained a foothold. Together, General Motors and Volkswagen control a third of China's market.
The manufacturing community is currently enmeshed in an ideological debate over sourcing and procurement. There's vigorous — and at times emotional — argument surrounding strategies for insourcing, outsourcing, near sourcing or keeping it in-house. The argument really shouldn’t focus on the fervent and at times politically-tinged abstractions of what flag flies over the factory, but rather what’s best for your business.
Delegates from North and South Korea held talks Saturday on restarting a stalled joint factory park that had been a symbol of cooperation between the bitter rivals, but there was no word on whether any significant progress had been made as discussions went into the night.
Chinese authorities have filed criminal charges against nearly a dozen public officials blamed for the high death toll in a fire last month that killed 121 people in a poultry plant in the northeast. China's top prosecuting agency has charged 11 public officials with dereliction of duty, according to a report Friday in the agency's official publication, Jiancha Daily.
A group of primarily European retailers and clothing makers has set a deadline of next spring to inspect clothing factories in Bangladesh that make garments for the companies. The group of 70 companies includes Swedish retailer H&M, Italian clothing maker Benetton and French retailer Carrefour. They say they will concentrate on renovating the most hazardous factories.
According to the business consulting firm Jones Lang LaSalle, there has been a significant uptick in the number of tech manufacturing jobs in the U.S. since 2001. One of the major reasons for expanding manufacturing to the U.S. stems from the desire to have factories closer to consumers and those who can then fix problems.
The European Parliament on Wednesday backed a rescue plan for the world's biggest cap-and-trade system for emissions of carbon dioxide, the most prevalent greenhouse gas from human activities. In a 344-311 vote, European lawmakers in Strasbourg, France, approved a proposal to delay an auction of allowances in the EU's emissions trading scheme.