Voice from the Commonwealth
Commentary, World Views and Occasional Rants from a small 'l' libertarian in Massachussetts

"If ye love wealth greater than liberty, the tranquility of servitude better than the animating contest for freedom, go home and leave us in peace. We seek not your council nor your arms. Crouch down and lick the hand that feeds you, and may posterity forget that ye were our countrymen." - Samuel Adams

Monday, July 07, 2003

Are we, the people, punishing Germany, too?

German exports to the United States fell in May by 11.5 percent to euro5.1 billion ($5.9 billion) according to figures released Monday, a decline the country's wholesalers association blamed on tension between the two countries over the war in Iraq.

Others, however, blamed the drop on the slow U.S. economy and the sharp increase in the strength of the euro, which makes German products much pricier in dollars.

But the Federation of German Wholesale and Foreign Trade pointed out that the new Federal Statistics Office numbers showed that exports to China, which pegs its money to the dollar, rose by 21.7 percent, suggesting other factors than currency fluctuations at work.

< email | 7/07/2003 03:20:00 PM | link

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