Refuelling for a US auto race

The US car industry, which a few years ago seemed destined for oblivion, has reconditioned itself by overhauling production systems and learning to give customers what they want.

While the American stock market has had a setback in recent weeks, at this stage it is just a normal correction after a big rise. If the European morass severely damages the world banking system then US shares, along with those in Australia, will take their share of the hit.

But for the moment optimism is stirring in the US partly because American companies are doing better after they took the hard knocks in the global financial crisis – something that did not happen in Australia.

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