Berliners stoic amid raging economic storm
By Markus Wanzeck | China Daily | Updated: 2009-03-17 07:44
The champion is stumbling. According to the latest numbers published by the German Federal Statistical Office on Friday, in January 2009 Germany's manufacturing turnover with foreign customers has imploded: It decreased 23.8 percent compared to 2008 levels.
Europe's largest economy will be hit harder by the downturn than other European countries. Its economic success builds mainly on foreign trade.
In 2008 Germany won the title of the world's export champion in a neck-and-neck race with China. It may win again, but probably for the last time. Last week German Chancellor Angela Merkel told the media that the country is facing the worst recession since World War II.
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