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Politics : Foreign Affairs Discussion Group

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To: LindyBill who wrote (52542)	10/17/2002 5:58:39 AM
From: Elsewhere	Read Replies (1) of 281500

European anti-Americanism reflects a deeper malaise There is no anti-Americanism but anti-unilateralism. They are puzzled by European irrationalism and weakness. I could post a long list of technologies where Europe is better than the USA. I have tried more humorous examples like cleaning robots but I can also name more serious products like passenger jets. Boeing slipping to No. 2 as Airbus rises biz.yahoo.com If you start discussing subsidies for Airbus I can start discussing tax advantages for Boeing. capitalism is Janus-faced--it brings astonishing growth and prosperity but at the cost of periodic and often violent adjustments when sufferings must be borne Of course Germany is still risk-friendly, and of course "violent adjustments" do occur. Witness the German equivalent of the NASDAQ, the "Neuer Markt". From top to bottom the index dropped 97%. Investors have lost several hundred billion euros. But there were no shootings like in the USA after a 30% drop. the German and the French governments have gone to extraordinary lengths to anesthetize the necessary pain of recession, keeping badly run businesses alive Wrong. This year there will be about 50,000 insolvencies of companies, about five times the level of a decade ago, an all-time record in post-war Germany. Businesses are allowed to fail, that's a major difference to Japan. Against this background of nervous depression There's no "nervous depression" but a stagnation. Depression is something else. Germany is a peculiarly vulnerable target with its lax security procedures. Germany has been successful in its fight against terrorism in the 70ies and 80ies (RAF) and caught most of the key persons. Where is ObL? I am not looking with rose-colored glasses at the German situation. Germany won't be a growth engine during the next years, and the red-green coalition has just passed the roadmap for the new government yesterday which is criticized heavily by many economists and employer associations - but still it's not quite as dire as some columnists paint it.

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