Russia » Economics

Recession In The East - 4 October, 2002

Toyota, Nissan, Sony and other leading Japanese companies have to suspend production or find other ways to send exports to North America.

The main North America ports were shut down because of the trade dispute. Japanese ships carrying cars, components and other products have been unable to unload or reload because of the confrontation between the US Pacific Maritime Association and the dockers' union.

Some companies, for example Sony, due to the specific of their products has started sending computer components by air. Others, such as auto producers Toyota and Nissan, were forced to stop production of commercial vehicles and passengers cars for a couple of days.

The long-going dispute could damage East Asia’s economy and lead to recession.
The dispute could hit trading companies Mitsui and Mitsubishi, which use the west coast ports for 70 to 80 per cent of their import and export trade between North America and Japan.

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