GM bankruptcy to delay US economic recovery
The GM bankruptcy is expected to be announced in the coming week, and could well be the final nail in the coffin for US economic recovery. The closure of many of the GM factories and brands could lead to lot of job losses, and may lead to closure of many small scale auto ancillary units.
Also that could lead to more automobile imports into US from countries like Japan and South Korea, which could expand the US deficit further. So we can safely assume the GM bankruptcy to delay the US economic recovery by few more months, if not more.