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Chicago Fed Letter, No. 70, June 1993
Auto Industry Restructuring and the Midwest Economy
From the steel industry to the retail industry, from Caterpillar to General Motors, the Midwest has faced a dramatically changing environment during the past decade or more. In its initial response, the region seemed headed into a tailspin of plant closings and displaced workers. Now, however, some businesses are regaining market share, perhaps in part because they adjusted quickly to change as it occurred. Other businesses have been less fortunate and are still struggling to find their way.
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