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Essay on intenrational business1 | ||
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This is the first 1,000 characters of 1828 words (7.31 pages) in the essay titled intenrational business1 Turnover in the Indonesian automotive components industry dropped by 80% in 1998, and the trend continued into 1999 despite efforts to generate exports and the cushion of a slightly more stable aftermarket. There were 171 local components manufacturers in 1998, employing 45,000 people--down from 65,000 the year before.Like the vehicle industry, the Indonesian components industry now faces its greatest challenge to date--trying to overcome the worst crisis in the automotive sector s history. Domestic demand has plummeted, and the economy is stalled. Trading conditions remain desperately subdued, with vehicle production now a tiny fraction of capacity levels. Inward investment has been delayed and in some cases diverted to other Asian countries in the light of the political and social instability in the country and, despite the elections, many political hurdles remain. As a result of the troubles, many indigenous manufacturers are struggling to contain losses and remain in business. Those that have linked with foreign joint-venture partners are more likely to weather the crisis, but at a price. Most are expected to relinquish control and the industry s need of recapitalisation has provided foreign partners with the opportunity to increase their equity holdings. Vehicle manufacturers have also done a lot to support their suppliers, in an effort to keep the supply chain intact. Nevertheless, the industry has been operating at a fraction of capacity, with extensive temporary ... |
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Keywords: tiny fraction, joint venture partners, components industry, vehicle production, vehicle industry, vehicle manufacturers, capacity levels, political hurdles, inward investment, regional production, equity holdings, social instability, production base, foreign partners, automotive components, domestic demand, economic stability, greatest challenge, redundancies, domestic market