On Jun 23, 2012, at 6:50 PM, Angelus Novus wrote:
> One argument I've heard that attempts to explain the apparent rationality of Germany in the crisis is that the Eurozone is of decreasing importance to Germany as an export market relative to East Asia. i.e. we may be entering the era of Chimerica being supplemented by Chi-Deutschland. Do you think there's anything to this?
That's not really borne out by the export stats. Germany is still very dependent on exports to the rest of Europe.
Doug