>>175697501973 and 2023 seem awfully similar.
Domestic production of petrochemicals fall to new lows.
Supplies of oil are cut due to a war.
Governments in the oil producing countries use the supplies as political leverage.
The war makes investors worry, causing the stock market to under perform and cause a general economic downturn.
Consumers are affected by the downturn, causing spending to go down.
Consumers no longer have the funds to purchase massive vehicles, and start looking for cheaper forms of transportation.
Meanwhile, automakers in countries with a lower average wage and a very limited domestic oil supply have made their cars both very cheap to buy and cheap to run.
Foreign auto firms had been selling their cars abroad, but with little success due to the stigma around their products.
However, the recent financial downturn is a fantastic opportunity, as their heavily advertised fuel efficiency and reliability make them a hit abroad.
Combined with a surge in the capabilities in their semiconductor industry, the foreign automakers start outpacing their domestic counterparts, eliminating domestic jobs.
Just replace the middle east with russia, and japan with either south korea or china, and it's the exact same scenario.
