|
|
Article: Herr Hare; don't be fooled by West Germany's surprisingly rapid economic growth. (editorial)
- Article from:
- The Economist (US)
- Article date:
- August 5, 1989
CopyrightCOPYRIGHT 1989 Economist Newspaper Ltd. 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)
|
Herr Hare
TO EVERYBODY'S amazement, the West German tortoise is suddenly sprinting like a hare. Between 1980 and 1987 its economy grew at an average rate of just 1-1/2% a year--the slowest of the big seven economies. At the end of 1987, amid loud moaning, forecasters predicted no better for the next two years. Instead, West Germany managed a strapping 3.4% growth last year, and several forecasters are betting on 4% in 1989, its fastest growth since 1979. This summer West German tourists, beautifying foreign beaches in their sun oil, feel smugger than ever: this should quieten those foreign pundits and their armchair prescriptions for Germany's economic health. ...