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The signs of economic slowdown include cutting down workforces by large, medium and small sized corporate entities. The criticism of General Motors by the President of the United States of America for shrinking its workforce is definitely not warranted as the company has cut down its workforce due to the economic slowdown. The fact that US economy has slowed down is quite clear from the fact that it is not only GM but many other automakers and corporate houses have resorted to shrinking of their workforces to save costs of running and operations.
The criticism of GM by the President also include accusation of the company being to concern about its activities and operations in China. The President accused GM of moving its major plants to China that have resulted in shrinking of its work force. However, the fact that GM has expanded its operations in Mexico and this has a major implications on the US operations than the expansion of the company in China not fund any mention in the criticism of the company by the POTUS. This is again a proof of the fallout of US and China as both countries are at loggerheads with each other due to the current trade war that has been going on between the two for quite some time now (Maletic, 2018).
The decision of GM to shrink its work force in the US is certainly not good for the economy but to relate it to the company’s expansion in the China is not correct. Further the economy has certainly slowed down a bit but it is nowhere as bad as it was in 2008 thus, asking the Federal Reserve to cut interest rate to stimulate money into the system is not at all necessary. This is especially when te economy is self-competent to stimulate money into the system.
Maletic, M. (2018). Chinese Slowdown and the Nominal Term Structures of the U.S. and German Interest Rates. SSRN Electronic Journal, 1(1), 12-34. doi: 10.2139/ssrn.3222271
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