Re: Automotive industry may double, Volume 10, Number 48, December 13 - December 19, Business briefs
That's great short-term news, as far as FDI is concerned. Now what is the government going to do to diversify the economic base?
If I were a journalist I would ask: is it prudent to have 50 percent of all industrial output from one industry? How diversified is the other 50 percent? How much of the economy is made up of manufacturing and how much by services?
The way it is presented here, I would be worried that the car industry will be too influential. What will happen when there is a shock to the global auto industry? Will it be another 1990 where everything shuts down and people have no jobs? Does this mean the end of further development and updating of the railroads, because the auto industry will be a stronger lobby? Slovakia has a great rail system; it would be a shame to let it fall apart as it did in the US.
Wouldn't it be better to attract some more high-tech industry? What about setting up call centres near the Austrian border, before the Czechs or the Hungarians do it?
Let the car industry come and grow, but let it also be a way to help the rest of the economy to grow.
BB,
Munich
