Japan mulls measures to help autoparts makers if GM files for bankruptcy

[Coventina]

Source: The Canadian Press

TOKYO — Japan will consider assistance for autoparts suppliers if they are seriously hurt by fallout from General Motors Corp.'s likely bankruptcy, the industry minister said Friday.

Toshihiro Nikai, minister of economy, trade and industry, said he was closely monitoring how Japanese manufacturers may be affected if General Motors collapses. He said the government "must consider measures," if there are any signs of serious trouble, according to a ministry official.

A person familiar with GM's plans has said it was "probable" that the Detroit-based automaker would seek bankruptcy protection on Monday. The person didn't want to be identified because the plans were still under discussion with the U.S. and Canadian governments.

GM has business ties with more than 100 Japanese suppliers, many of them small companies vulnerable to cash shortages.



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[FreakinDJ]

1. Its OK when foriegn countries employ protectionism for manufacturing

but all Hell breaks loose when an American even implies we need to protect the manufacturing base of the USA