Harsh Wind
Published in Mitteldeutsche Zeitung
(Germany) on 16 August 2011
by Steffen Höhne (link to original)
(Germany) on 16 August 2011
by Steffen Höhne (link to original)
Translated from
by Jessica DeVaul.
Edited by Hoishan Chan
.
Both pessimistic and optimistic economists currently struggle over the interpretation of the economic situation. One group of economists sees that there is weak growth in the German economy during the second quarter, as opposed to the economy being at the end of an economic recovery period. The other economists refer to the standard order of books in the German industry and see at most just small setbacks in growth.
During the past few weeks, the drop in prices on the international stock exchanges has not led to a new economic crisis. However, certain individual exaggerations with regard to the stock market have found fine seismographs for measuring the coming economic developments so far. The high national debts of the industrial nations and the weak U.S. economic situation burden the world economy. The United States’ economy plunged in the recession — none of the other countries’ economies are excluded from this — and thus, it pulled the German economy downward with it. This is the way it has been up until now.
Therefore, the German companies were well-advised to get themselves ready for a stormy autumn. In Saxon-Anhalt, however, several industrial companies are presently working at full capacity. Therefore, even a harsh wind might not so quickly unbalance the situation.
During the past few weeks, the drop in prices on the international stock exchanges has not led to a new economic crisis. However, certain individual exaggerations with regard to the stock market have found fine seismographs for measuring the coming economic developments so far. The high national debts of the industrial nations and the weak U.S. economic situation burden the world economy. The United States’ economy plunged in the recession — none of the other countries’ economies are excluded from this — and thus, it pulled the German economy downward with it. This is the way it has been up until now.
Therefore, the German companies were well-advised to get themselves ready for a stormy autumn. In Saxon-Anhalt, however, several industrial companies are presently working at full capacity. Therefore, even a harsh wind might not so quickly unbalance the situation.
Good translation work!