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General MotorsThe Great Currency DebateThe Great Currency Debate
In his first major speech as president of General Motors Corp.-North America, Gary Cowger criticizes the Japanese government for driving down the value of the yen. Speaking at a Chicago Auto Show breakfast, Cowger says Japanese auto makers have enjoyed a 30% cost advantage in the U.S. over the last three years because of an artificially low yen. We are especially concerned that the government of Japan