From my most recent NRO article, on developments in Europe: “Frau Merkel has lightly but determinedly tinkered with the tax structure and fought for simplification, while pulling Germany’s deficit back to just over 1 percent of GDP (an eighth of American fiscal incontinence). By purposeful self-help, Germany now has an economy in which almost half of GDP is in exports, and most of that in very-high-quality engineered products, the fruit of the enviably diligent and capable German professional and executive elites and work force. In the last five years, German unemployment has declined from 9.6 to 5.5 percent. In today’s world economy, Germany, amazingly, now plays the strongest hand of any country, including China.”
Whether you agree or disagree, your comments are, as always, most welcome.