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Article: German Food Industry Floundering Under Asian and Russian EconomicCrises.
- Article from:
- Food & Drink Weekly
- Article date:
- September 28, 1998
CopyrightCOPYRIGHT 1998 Informa Economics, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The economic slowdown in Asia and the fiscal collapse in Russia have weakened the German equities markets severely, says a recent agricultural attache report from USDA. The former sense of economic well-being, the "wealth effect" from a buoyant stock market, now has almost completely evaporated, and been replaced at least temporarily with a sense of concern in many quarters.
During recent years, the German food industry expanded its trade in the central and eastern European (CEE) region rising to a total value of a little over $2 billion in 1997. Through June 1998, German food exports (major export items include confectionery sweets and dairy products) to Russia ...
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