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Foreign Competition Precision also has to deal with an increase in foreign competition. During the recession, Japan had noticed a potential for growth in the automotive industry and had invested in modernization. Now they have the technology and equipment necessary to keep up with quality and price demands...
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Now they have the technology and equipment necessary to keep up with quality and price demands. With the voluntary quota system now expired, Japan is looking to increase its amount of exports to the United States. Japanese goods are cheaper and of better quality and domestic firms cannot compete with them...
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