Asian currencies are crumbling. Bankruptcy attorneys must be the only people making money in Thailand. And tens of millions of people in China would love to buy a car but can't afford one.
Still, isn't it hard to really feel the effects in, say, Kokomo, IN, during this time of domestic prosperity?
Apparently it is because only 20% of supplier respondents and 39% in the OEM ranks say their companies have been negatively impacted by the Asian economic crisis.
Until it hits home, the crisis is a minor blip on the radar screen for most respondents.
Of course, employees working for Japanese automakers or suppliers operating in the United States have a different perspective.
"Major capacity losses resulting in lost jobs, lower profit and an angry work force," writes Kristofer Sherbine, operations manager of Takata Inc., a Japanese-based restraint systems company.
Other supplier respondents worry about the situation in Asia-Pacific, noting "lack of expansion capital" and - this one was popular - "underpriced imported products."
Respondents from U.S. automakers that have invested heavily in the region have their own concerns.
"There have been delays in building new production facilities," writes a Ford Motor Co. employee. "Joint ventures run short of cash - require propping up," writes another respondent.
"Lost international sales," says a Chrysler Corp. product manager. "It has slowed our global expansion into Asian markets."
