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Manufacturing is still critical to the economy United States. Clyde Prestowitz, says it's time to start realizing the positive spillovers that manufacturing creates... Read more  

Events & Activities

Stephen Olson at Chinese Development Institute Conference

 

 Clyde Prestowitz giving presentation to CDI...

 

Steve Olson teaching trade negotiations at the Mekong Institute...

 

Stephen Olson to speak at upcoming workshop organized by the International Institute for Trade and Development on 

"Economics of GMS Agricultural trade in goods and services towards the world market"

Chiangmai, Thailand Sep 8-12.

(01/03/10) Prestowitz Discusses Job Losses in the Washington Post

A hard downshift in Detroit;
In a struggle that resonates across the land, Motor City's residents feel beaten up by a fight to find work and save their homes. Even so, many are optimistic about the decade ahead.

Dana Hedgpeth and Jennifer Agiesta

The decline of the auto industry and the nation's economic slide have left many residents here trapped, without work, in houses they can't sell, in neighborhoods where they fear for their safety, in schools that offer their children a hard road out. People across the metro area are feeling the stress of an uncertain financial landscape, with majorities worried about the economy, the cost of health care and having enough money to pay their bills. The region's bleak jobs situation is residents' No. 1 concern, by a big margin. That anxiety is compounded by a widely held feeling that the community is divided by race and income. And yet they haven't given up.

In a new Washington Post-Kaiser Family Foundation-Harvard University poll about Detroit, almost all residents of the main three-county metropolitan area see their economy as in ruins. About half say this is a bad place to raise a family; as many describe a declining standard of living, swelling debt, deteriorating neighborhoods and a brutal job market.

A steadfast optimism, however, shines through the poll. A large majority of residents expect that things will get better, with 63 percent optimistic about the area's future and the same percentage expecting their finances to improve over the next decade.


Click Here to Continue Reading the Article in the Washington Post (free subscription required).

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