International Bailout Competition Begins

The US has provided its American automobile industry access to money that it otherwise would not be able to get.  Car companies in other countries around the world say that this bailout is a subsidy that gives American manufacturers an unfair advantage over their foreign competitors.  Consequently, foreign car companies are asking their governments for bailouts too.  Due to the nature of international competition, we can safely expect other industries around the world to behave the same way.

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