GM fares better in foreign markets than in the US market. The Middle East is another growing market, usually for the high-end products. So much so that Ford Australia has let Holden have all the glory with the long wheelbase cars they export over.
Sandbagging the economy is almost never the answer. Nor should wages be decreased to Chinese levels to compete. Sometimes you just have to let go. Nevertheless, making cars is generally still viable in developed countries. It's withstood the trend towards service economies for long enough.
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One stumble does not constitute total failure;
One victory does not constitute total success.
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