American Businesses retreated from Europe Haunted by Dim Atmosphere

With Europe's economic depression and debt crisis, American large corporations take on downsizing in Europe and closing up local plants. Ford, the Dow Chemical Company and Kimberly Clark declared downsizing European personnel or capacity requirement planning, triggering local apprehension that follows. Leading international corporations say they don't expect performance in Asia and Europe to grow in the short term. The U.S. is the only market to have some growth, but even in America, corporations are still walking on thin ice. On the other hand, American businesses predict that Europe's condition won't turn good  and that condition of America, China and other developing countries will trun good in one year, leaving Europe alone facing numerous challenges.

Automobile is the most suffering industry in Europe. Most auto-makers say they are suffering from Europe's excessive capacity, which increases company costs, and decreasig profits. General Motors (GM) attributes its substantial decrease of net profit to its deficit in Europe. The market predicts General Motors will soon follow the steps of Ford and announce capacity cutdown in Europe.