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On the Line: Detroit Goes Bankrupti
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July 26, 2013 3:00 AM
Not that long ago, the City of Detroit was a symbol of America's industrial power and economic might. But recent decades have not been kind to the city or its residents, and it's now become the largest US city to file for bankruptcy. Detroit has lost more than half of its population since its peak, as jobs and money fled the city. Now, if all goes to plan, the city will enter Chapter 9 bankruptcy. Is Detroit unique or is it a harbinger of what may lie ahead for other cities? How did it happen and what comes next? That's On The Line. GUESTS Jerome Vaughn (in Detroit): News Director, WDET. Jack Lessenberry (in Detroit): Professor of Journalism, Wayne State University; Sr. Political Analyst, Michigan Radio. Mark A. Calabria: Director of Financial Regulation Studies, CATO Institute.

On the Line: Detroit Goes Bankrupt

Published July 25, 2013

Not that long ago, the City of Detroit was a symbol of America's industrial power and economic might. But recent decades have not been kind to the city or its residents, and it's now become the largest US city to file for bankruptcy. Detroit has lost more than half of its population since its peak, as jobs and money fled the city. Now, if all goes to plan, the city will enter Chapter 9 bankruptcy. Is Detroit unique or is it a harbinger of what may lie ahead for other cities? How did it happen and what comes next? That's On The Line. GUESTS Jerome Vaughn (in Detroit): News Director, WDET. Jack Lessenberry (in Detroit): Professor of Journalism, Wayne State University; Sr. Political Analyst, Michigan Radio. Mark A. Calabria: Director of Financial Regulation Studies, CATO Institute.

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#BlackMonday
Stock markets have fallen sharply as fears of a Chinese economic slowdown continue to haunt investors. China's central bank devalued the country's currency, the yuan, two weeks ago, raising fresh concerns that a slowdown in the country's economy was worse than originally feared. In addition, oil prices have plunged to six-year lows, amid concerns about waning demand for commodities from China. On this week’s HashtagVOA, Cal Perry and his guests examine the reasons behind the nosedive.

Guests:
Keith Johnson: Senior Reporter, ForeignPolicy.com
Sam Stovall: Chief Equity Strategist, Standard and Poor Capital IQ
Alexis Christoforous:  VOA Business Reporter