HONG KONG-According to Asia Foundation vice president Allen Choate raw increasing wages and material and energy costs are rapidly eroding China’s historic price advantage. MORE
DETROIT-Responding to plummeting sales, General Motors Corp. has announced it is cutting North American truck production by nearly 300,000 units and laying off another 1,700 workers. MORE
MOSCOW-Daimler is considering acquiring a large stake in Kamaz, Russia’s biggest heavy truckmaker, in a move that could boost its sales in what has become Europe’s biggest market for commercial vehicles. MORE
HIGH POINT, NC-Since 2000, scores of U.S. factories have shut down as furniture companies shifted manufacturing to China in search of lower costs. But as rising inflation drives up factory wages in China and high oil prices make shipping costlier, some companies are considering moving back home. MORE
NEW DEHLI, India-Authorities in the western Indian state of Maharashtra have begun rationing electricity usage as demand continues to outstrip the region’s power infrastructure. MORE
WASHINGTON-The Navy decision to cancel a $20 billion plan for a new fleet of destroyers is throwing into question the future of the Bath Iron Works shipyard in Maine. MORE
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