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 aMotor Co. employee. "Joint ventures run short of cash - require propping up," writes another respondent.
"Lost international sales," says aCorp. product manager. "It has slowed our global expansion into Asian markets."