Description: Detroit, once famous for housing one of the largest industrial clusters in the world, became the biggest U.S. city to file for bankruptcy. The filing could mean that municipal employees will be laid off, assets will be sold off and basic services will be scaled back.

Source: Financial Post

Date: July 18 2013

Link: http://business.financialpost.com/2013/07/18/detroit-bankruptcy/

Questions for Discussion:

1. What were the important reasons that led Detroit to file for bankruptcy?
2. Do you think this filing will help Detroit?
3. What would be the effect of this filing for residents?
4. Detroit once had a large automobile industrial cluster; can you name other industrial clusters around the world?