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Diesel Dave, you're right; part of a functioning capitalistic system involves both success and failure - naturally and without government intervention.
However, I think it is worth noting that minimum wage laws simply make production more expensive in the United States. That factor should at least be taken into account when comparing foreign to domestic businesses. Just look at how certain industries are constantly sent overseas (customer service help lines, for example).
I'm not saying that Tele man's points are invalid (in fact, I don't know enough automotive history to make a claim in either direction).
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