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New normal becomes old normal as exports propel U.S. recovery BusinessWeek Share     The "new mix" is out to topple the "new normal" as the paradigm for America's economic future. The 5.9 percent annualized surge in fourth-quarter growth—the fastest since 2003—was powered more by exports and business investment than the traditional drivers of consumption and housing. This new mix of demand will boost the economy by 3.7 percent in 2010 and pave the way for 3.5 percent annual average increases thereafter, said Joseph Carson, an economist at AllianceBernstein in New York. More Imports to hurt auto parts cos The Economic Times Share
Domestic automakers are likely to source as much as half of all components in the next 3-4 years from overseas suppliers adversely affecting the growth of India's auto component industry, said a study by industry body Ficci. According to the study, elimination of Custom duties on import of auto components under Free Trade Agreement (FTAs) signed by India with other countries will induce automakers to source from overseas vendors. More
Steel sector faces tough restructuring: Executive Global Times Share
China's huge and fragmented steel sector is facing a painful period of restructuring and only the best companies will survive, the head of one of the country's biggest mills recently said. Zhu Jimin, head of Beijing-based Shougang Group, told reporters that while he was "neither optimistic nor pessimistic" about the prospects for the sector in 2010, demand would remain strong but the industry would still have to resolve some of its long-standing problems. More Chrysler gearing up for Dodge Viper finale The Detroit News Share
Chrysler Group LLC will start production of the final run of 500 Dodge Vipers on March 29 and wind up the year with the launch of the tiny Fiat 500, leaked production schedule dates show. Chrysler officials would not verify the dates that appeared on a third-party Web site devoted to Chrysler matters. But company and union officials confirmed some of the dates including the launch of the iconic sports car, the all-new Jeep Cherokee and a family of rear-drive sedans. More
Deere considers selling wind energy business Manufacturing.Net Share
Farm equipment maker Deere & Co. said it has hired investment adviser Goldman Sachs & Co. to review options for the company's wind energy business, including a possible sale. Deere has been involved in the financing, development and ownership of wind energy projects for the past five years. In that time, the company has invested $1 billion into the business, said Ken Golden, director of public relations for the company. More Toyota charts upset rivals Detroit Free Press Share
Toyota's recall troubles might appear at first to be an occasion for great glee among Ford, General Motors and Chrysler, a chance to steal back long-lost customers from their biggest Asian competitor. And momentarily, at least, there is that opportunity. February sales numbers showed a decline of 9 percent for Toyota while the Detroit Three–especially a surging Ford—posted gains. More China sitting on biggest of all economic bubbles? The Washington Times Share
When Prime Minister Wen Jiabao trotted out his litany of promised reforms to the annual rubber-stamp parliament, they reconfirmed growing suspicions of the Chinese economy's fragility. Now more veteran observers are joining that little band that has predicted an implosion of the jerry-built system. More
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