From WSJ
Toyota Motor Corp. said it plans to start exporting about 6,000 U.S.-assembled Camry sedans a year toSouth Korea beginning next month.
The Camrys will be produced at Toyota’s manufacturing plant in Georgetown, Ky. The plant is Toyota’slargest production outside of Japan, employing nearly 7,000 workers.
The decision marks the first time the U.S.-assembled Camry will be exported outside of North America. The vehicles are due to arrive in South Korea beginning in January.
As a side note, this is what a functioning market does when you have spent beyond your means or you’re not as rich as you thought you were.
You produce things that get to be consumed by other people. You don’t shutter factories and send your workers home to eat Cheetos and watch the Real Housewives.
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Tuesday ~ December 6th, 2011 at 7:32 am
Quote of the day [The Economist] | DreamInn
[...] KARL SMITH: [T]his is what a functioning market does when you have spent beyond your means or you’re not as rich as you thought you were. [...]
Tuesday ~ December 6th, 2011 at 11:33 pm
"Japanese" Cars, Made in America and Ready for Export to South Korea « Gyrovague's Raves
[...] Smith wisely points out that this is a great example of what a recession isn’t. If the problem is years of "living beyond our means" the solution dictated by cosmic [...]
Wednesday ~ December 7th, 2011 at 8:27 am
BigEd
Who is living ” – - beyond our means”? There are more than 15 million under- or unemployed in this country.
We are living well below our means.
Wednesday ~ December 7th, 2011 at 10:03 am
Now That’s Just Odd « Barely Legally
[...] Karl Smith, via Matthew Yglesias: [...]
Thursday ~ December 29th, 2011 at 3:59 pm
Hit Coffee » Linkluster: Keys on a “True” Piano
[...] exporting Japanese cars to South Korea. « Ataturk’s [...]